Gelonghui May 22 丨 Songdu Service (09608onlineslotsbonus.HK) Announcementonlineslotsbonus, May 22, 2024onlineslotsbonus, the company entered into a subscription agreement with the subscriber, pursuant to which the company conditionally agreed to allocate and issue, and the subscriber conditionally agreed to pay cash 126onlineslotsbonus.72 million Hong Kong dollars subscribed for a total of 640 million subscription shares at a subscription price of HK$0.198 per subscription share, a discount of approximately 19.5% to the closing price of HK$0.246 on March 27. The subscription shares accounted for 16.667% of the Company's existing issued share capital as at the date of this announcement and approximately 14.286% of the Company's issued shares as enlarged by the allotment and issue of subscription shares.

The total and net proceeds from the subscription are estimated to be HK$126.72 million and approximately HK$125.22 million respectively. The net proceeds raised per subscription share arising from the subscription will be approximately HK$0.196 per share. The company plans to use the net proceeds for daily operations.

The Directors believe that the Subscription provides the Group with an opportunity to strengthen its financial position and raise funds for the above purposes. In addition, the subscription will expand the company's shareholder base, thereby increasing the liquidity of shares. The directors believe that the terms of the subscription agreement are fair and reasonable and the subscription is in the overall interests of the company and its shareholders.