Culture Communication (00343) plans to place up to 200 million warrants at a premium of about 84.1%

Zhitong Finance App News, Culture Communication (00343) issued an announcement. On April 16, 2025 (after the trading period), the company and the placement agent entered into a warrant placement agreement. Based on this, the placement agent agreed to place up to 200 million warrants (who and their ultimate beneficial owners (if applicable) are independent third parties) according to the initial exercise price of the warrants. Purchase up to 200 million warrants. Each share warrant comes with the right to subscribe for one share of the warrants. Warrants will be placed at HK$0.031 each. The initial exercise price of the warrants was HK$0.3 per share compared to (i) the closing price of HK$0.163 per share as reported by the Stock Exchange on the last trading day of approximately 84.1%.

Assuming that the highest number of warrants are sold at the warrants placement price, the total proceeds and net proceeds from issuing the warrants would be approximately HK$6.2 million and HK$5.45 million respectively. The net proceeds from the issuance of the warrants are expected to be used as the Group's general working capital, including salary payments, rental expenses, IT services and other Group office expenses