Pak Tak International Limited announced that it has entered into an Placing Agreement with the Placing Agent pursuant to which the Placing Agent has conditionally agreed to procure 780,000,000 new Shares at an issue price of HKD 0.019 per Placing Share for the gross proceeds of HKD 14,820,000 on November 9, 2023. The company has disclosed the issue expenses of HKD 120,000; net proceeds of HKD 14,700,000. The Placing Agent will receive a placing commission of 1% of the aggregate Placing Price of the Placing Shares placed by the Placing Agent.

The placing commission was determined after arm?s length negotiations between the Company and the Placing Agent. Completion is expected to take place on the Completion Date after fulfilment of the condition precedent or such other date as the Company and the Placing Agent may agree in writing. The transaction has been approved by shareholders of the company.