BRIGHT FUTURE (01351) proposes a share consolidation on a "5 into 1" basis and the issuance of up to 360 million rights shares.

BRIGHT FUTURE (01351) announces that the Board proposes to implement a share consolidation on the basis that every 5 issued and unissued shares of HK$0.1 each be consolidated into 1 consolidated share of HK$0.5 each. To facilitate the Rights Issue and to accommodate the future expansion and growth of the Group, while providing greater flexibility for the Company's fundraising, the Board proposes to increase the authorized share capital of the Company from HK$200 million (divided into 2 billion shares) to HK$600 million (divided into 6 billion shares) (or, upon the Share Consolidation becoming effective, 1.2 billion consolidated shares). The increase in authorized share capital is subject to the approval by the Shareholders of the increase in authorized share capital by way of an ordinary resolution at the extraordinary general meeting. Conditional upon the Share Consolidation and the increase in authorized share capital becoming effective, the Board proposes to conduct the Rights Issue on the basis of 3 Rights Shares for every 1 consolidated share held on the Record Date at a subscription price of HK$0.600 per Rights Share, raising up to approximately HK$216 million (before expenses) by issuing up to 360 million Rights Shares to qualifying shareholders (assuming that, on or before the Record Date, there is no change in the total number of issued shares other than as a result of the Share Consolidation). If the Rights Shares are fully subscribed, the maximum estimated net proceeds from the Rights Issue after deducting all necessary expenses will be approximately HK$207 million (assuming that, on or before the Record Date, there is no change in the number of issued shares other than as a result of the Share Consolidation). On 15 September 2026 (after trading hours), the Company entered into a placing agreement with the joint placing agents to place the unsubscribed Rights Shares and the unsold Rights Shares of non-qualifying shareholders to independent placees on a best-efforts basis after the latest time for acceptance, for the subscription of the unsubscribed Rights Shares and the unsold Rights Shares of non-qualifying shareholders. The placing price of the unsubscribed Rights Shares and the unsold Rights Shares of non-qualifying shareholders shall not be less than the subscription price.