CORNERSTONE TEC (08391) intends to issue approximately 32.046 million subscription shares to repay loans.

CORNERSTONE TEC (08391) announced that as of the date of this announcement, the company (as the debtor) owes a total of approximately HKD 16.023 million to the said creditor. On January 21, 2025, the company (as the debtor) entered into an agreement with the said creditor, whereby the company has conditionally agreed to issue and allot a total of approximately 32.046 million shares to the said creditor (or their nominee) at a subscription price of HKD 0.50 per share. The subscription funds payable by the creditor under the agreement will be settled by capitalizing all outstanding amounts owed to the creditor by the company as shareholder loans.