SMART CITY DEV(08268): Termination of Placement Agreement

SMART CITY DEV (08268) announced that they plan to distribute up to 33.33 million shares of allocated shares. Based on market conditions, the company and the placement agent have mutually agreed to immediately terminate the placement agreement. After the termination of the placement agreement, all responsibilities of the contracting parties under the placement agreement have been terminated and any party shall not make any claims against the other party in relation to the placement agreement, except for any actions that violate any obligations under the placement agreement. In addition, the directors believe that the termination of the placement agreement and the proposed placement under it will not have a significant adverse impact on the operation and financial condition of the group. After considering the future development of the group and market conditions, the company may consider further fundraising activities.