NEW CONCEPTS completed the issuance of a total of 2.3 million subscription shares
NEW CONCEPTS completed the issuance of 2.3 million subscription shares, of which 1.6 million shares and 700,000 shares were allocated to subscriber 3 and subscriber 4 at HKD 1.50 per share, respectively. As subscribers 1, 2, and 5 failed to fulfill the relevant agreements, the company has terminated subscription agreements 1, 2, and 5, and the related obligations and responsibilities have also been terminated
According to the announcement from NEW CONCEPTS (02221), as the conditions precedent set forth in Subscription Agreement 3 and Subscription Agreement 4 have been met, the completion of Subscription Matters 3 and 4 has been implemented on October 23, 2025, in accordance with the terms and conditions of Subscription Agreement 3 and Subscription Agreement 4, respectively. 1.6 million subscription shares (approximately 0.82% of the enlarged issued share capital of 2.3 million subscription shares of the Company) and 700,000 subscription shares (approximately 0.36% of the enlarged issued share capital of 2.3 million subscription shares of the Company) have been allotted and issued to Subscriber 3 and Subscriber 4 at a subscription price of HKD 1.50 per subscription share.
As of the date of this announcement, Subscriber 1, Subscriber 2, and Subscriber 5 have each failed to fulfill their obligations under the relevant subscription agreements. Therefore, the Company has exercised its rights to terminate Subscription Agreement 1, Subscription Agreement 2, and Subscription Agreement 5 (termination). As a result, Subscription Matters 1, 2, and 5 have not been completed. Upon termination, all obligations and responsibilities of the Company under the relevant subscription agreements will cease and terminate, and Subscriber 1, Subscriber 2, and Subscriber 5 shall not make any claims against the Company
