SIMPLICITY HLDG (08367) plans to offer a discount of approximately 19.05% to sell up to 230 million new shares.

Simplicity Holdings (08367) announced that on November 18, 2024, the company entered into a placement agreement with the placing agent. The placing agent agreed to place up to 230 million new shares on behalf of the company to no less than six independent placees at a price of HK$0.017 per share based on their best efforts. The placing price of HK$0.017 per share represents a discount of approximately 19.05% compared to the closing price of HK$0.021 per share on the GEM on November 18, 2024 (the date of the placement agreement). The maximum number of shares to be placed is 230 million, which is equivalent to approximately 20.00% of the company's total issued share capital of 11.508 billion shares as of the announcement date, and approximately 16.67% of the total issued share capital after the placement. The net proceeds from the placement, approximately HK$3.8 million (assuming full subscription of the placing shares and after deducting all related expenses), will be used for the company's general working capital.