Glonghui May 7 丨 New New Technology (09600blacklotuscasino100nodepositbonuscodes2022.HK) announced that on May 7, 2024, the Company entered into a placing agreement with the placing agent, pursuant to which the Company has conditionally agreed to place up to 157,302,880 placing shares through the placing agent on a best efforts basis at a placing price of HK$0.28 per placing share to not less than six placees, who must be independent third parties.

The maximum number of placing shares, 157,302,880 shares, represents approximately 16.67% of the company's issued share capital as enlarged by the allotment and issue of placing shares. The placing price of HK$0.28 represents a discount of approximately 17.65% to the closing price of HK$0.34 per share of the shares as quoted on the Stock Exchange on the date of the placing agreement; the total proceeds and net proceeds (after deducting the placing commission andblacklotuscasino100nodepositbonuscodes2022Other related expenses) are expected to be approximately HK$44.04 million and HK$43.6 million respectively, while the net price per share is expected to be approximately HK$0.277. The company intends to use the net proceeds from the placing to supplement the group's general working capital.