EMINENCE ENT (00616) has completed the issuance of 116 million shares for a net proceeds of approximately 36.71 million Hong Kong dollars.

EMINENCE ENT (00616) announced that all conditions set out in the placing agreement have been met, and the completion of the placing was done on January 26, 2026 in accordance with the terms and conditions of the placing agreement. Under the placing agreement, the company has issued and allotted 1.16 billion placing shares to six placees at a placing price of HK$0.32 per share in accordance with the general mandate, representing approximately 6.21% of the issued share capital of the company as of the announcement date (after the placing). Following the completion, the placees are not major shareholders of the company or connected persons of the company under Rule 14A of the Listing Rules. The placees are not permitted to sell any placing shares before May 31, 2026. The total proceeds from the placing are HK$37.08 million and the net proceeds from the placing (after deducting placing commission and other related costs and expenses) are approximately HK$36.71 million. The company intends to use the net proceeds from the placing to repay bank loans in accordance with the refinancing terms of the existing bank loans of the group.