[ET Net News Agency, 2 December 2021] Seazen Group Limited (01030) said the company
proposes to raise up to (i) approximately HK$1,567.29 million before expenses, by issuing
295,715,521 rights shares to the qualifying shareholders by way of the rights issue on the
basis of one rights share for every twenty-one existing shares (assuming no change in the
number of shares in issue on or before the record date); or (ii) approximately HK$1,569.62
million before expenses by way of the issue of 296,154,878 rights shares (assuming no
change in the number of shares in issue other than the full exercise of outstanding vested
share options and the holders of such vested share options are registered as holders of
the shares on or before the record date), at the subscription price of HK$5.30 per rights
share. the rights issue is only available to the qualifying shareholders.
The net proceeds are estimated to be (i) approximately HK$1,559.79 million (assuming no
change in the number of shares in issue on or before the record date); or (ii)
approximately HK$1,562.12 million (assuming no change in the number of shares in issue
other than the full exercise of outstanding vested share options and the holders of such
vested share options are registered as holders of such shares on or before the record
date). The net proceeds are intended to be used for 60% as additional capital reserve to
capture business opportunities for property development in the PRC and 40% general
corporate purposes.
Wealth Zone and Set Hero have irrevocably undertaken to the company to subscribe for an
aggregate of 205,141,332 rights shares (as to 201,133,047 rights shares and 4,008,285
right shares to be subscribed by Wealth Zone and Set Hero, respectively) which will be
provisionally allotted to them nil-paid in respect of the shares legally and beneficially
owned by them in aggregate, pursuant to the terms of the prospectus documents.
Wealth Zone and Set Hero have irrevocably undertaken to the company to ensure that the
4,307,968,000 shares currently beneficially owned by them will not be sold, disposed of or
transferred by them and will remain beneficially owned by them in aggregate on the record
date. (RC)