EVEREST GOLD (01815) intends to discount approximately 19.50% to issue 248 million shares, raising a net amount of approximately HK$398 million.

Everest Gold (01815) and CHI Silver GP jointly announced that on November 19, 2025 (after trading hours), Everest Gold entered into 6 subscription agreements with 6 subscribers. Under these agreements, the subscribers conditionally agreed to subscribe for shares, while Everest Gold conditionally agreed to issue a total of 248 million subscription shares at a subscription price of HK$1.61 per share. Assuming no changes in Everest Gold's issued share capital from the date of this joint announcement to the completion date, the issued share capital of Everest Gold after the issuance of subscription shares (subject to completion of the subscription matters) will represent approximately 16.66%. The subscription price of HK$1.61 per share is at a discount of about 19.50% compared to the closing market price of HK$2.00 per share on the Stock Exchange of Hong Kong on November 19, 2025 (the date of the subscription agreements). Assuming all subscription shares are fully subscribed and upon completion, the total proceeds raised from the subscription matters are expected to be HK$398.5 million. After deducting all related expenses, the net proceeds are estimated to be approximately HK$398 million. The net proceeds raised from the subscription matters will mainly be used to support the expected business growth and development of Everest Gold Group. After completion, CHI Silver's equity interest in Everest Gold will be diluted from approximately 40.39% to around 33.66% (assuming no other changes in Everest Gold's issued share capital from the date of this joint announcement to the completion date). Pursuant to Listing Rule 14.29, the dilution of CHI Silver's equity interest in Everest Gold after completion constitutes a deemed disposal for CHI Silver. Following completion, Everest Gold's financial performance and financial position will no longer be consolidated in CHI Silver GP's comprehensive financial statements. However, CHI Silver's share of Everest Gold Group's profit or loss of around 33.66% will be recognized using the equity method as CHI Silver's profit or loss. By holding a 33.66% equity interest in Everest Gold immediately after completion, CHI Silver also expects to continue as a controlling shareholder of Everest Gold after completion.