GRAND OCEAN AR (00065) proposes rights issue on a "1 for 7" basis

GRAND OCEAN AR (00065) announces that the Company proposes to conduct a rights issue on the basis of 7 rights shares for every 1 existing share held on the record date, at a subscription price of HK$0.280 per rights share, to raise gross proceeds of up to approximately HK$481 million by issuing up to 1,718,760,000 rights shares to qualifying shareholders (assuming there is no change in the number of issued shares on or before the record date). Assuming the rights issue is fully subscribed, the estimated net proceeds from the rights issue will be approximately HK$479.75 million (assuming there is no change in the number of issued shares on or before the record date). As at the date of this announcement, the shares are traded on the Stock Exchange in board lots of 4,000 shares. The Board proposes to change the board lot size for trading on the Stock Exchange from 4,000 shares to 5,000 shares, which will take effect from 9:00 a.m. on Wednesday, 11 November 2026. The Company will arrange an odd lot matching service to facilitate odd lot trading.