CHK OIL (00632) completed the placement of a total of 87 million shares, raising approximately HK$17.35 million net.

CHK OIL (00632) Announcement, all conditions have been met and completed on June 18, 2026. A total of 87 million shares of placement shares have been successfully placed at a price of HK$0.21 per share to not less than six underwriters according to the terms and conditions of the placement agreement. The directors have confirmed that all underwriters are individual investors and independent third parties, and none of them will become a major shareholder after completion. The 87 million shares of placement shares represent approximately 10.01% of the Company's existing issued share capital as of the date of this announcement, and approximately 9.10% of the Company's issued share capital after the placement of shares. The total proceeds from the placement amount to approximately HK$18.27 million, and the net proceeds (after deducting placement commission and other related expenses, including professional fees) amount to approximately HK$17.35 million, with a net issue price of approximately HK$0.199 per share. After completion, the Group intends to use approximately 74.9% of the proceeds to repay part of the outstanding principal amount owed to Xin Hua; and intends to use approximately 25.1% for other business operations and general working capital of the Group by December 31, 2026 or earlier.