TRENDZON HLDG (01865) plans to issue approximately 28.336 million new shares at a discount of about 17.2%

TRENDZON HLDG (01865) announced on February 25, 2025, that the company has entered into a subscription agreement with subscriber Ms. Ma Jiamin. The company has conditionally agreed to issue and issue 28.336 million new shares, while the subscriber has conditionally agreed to subscribe for these shares at a price of HK$0.20 per share. Assuming that the company's issued share capital remains unchanged from the date of this announcement to the completion period, the subscription shares would represent approximately 4.00% of the company's existing issued share capital as of the announcement date, and approximately 3.85% of the enlarged issued share capital after the issuance and subscription of shares. The subscription price of HK$0.20 per share represents a discount of approximately 16.3% compared to the closing market price of HK$0.239 per share reported by the Exchange on the date of the subscription agreement, and a discount of approximately 17.2% compared to the average closing market price per share of approximately HK$0.2416 reported by the Exchange in the last five consecutive trading days prior to the subscription agreement. If all subscription shares are fully subscribed, the total proceeds from the subscription will be approximately HK$5.67 million, and the net proceeds (after deducting other related expenses) will be approximately HK$5.617 million. The company plans to use approximately 60% or HK$3.40 million of the net proceeds to repay the group's debts, and approximately 40% or HK$2.20 million to supplement the group's general working capital.