Maiyue Tech pushes Long-Stop Date to 2 Sep 2026, lifts placing price to HK$1.06

Bulletin Express
Aug 13

Maiyue Technology Limited has amended the terms of its ongoing share placement, announcing two key changes through a supplemental agreement signed on 13 August 2026 after trading hours.

Extension of Long-Stop Date • The deadline for satisfying all conditions precedent for the placement has been moved from 13 August 2026 to 2 September 2026. • The adjustment allows the placing agent additional time to secure investors for up to 100.00 million new shares to be issued under the company’s general mandate.

Adjustment of Placing Price • The placing price has been raised from HK$0.97 to HK$1.06 per share. • The revised price represents a 19.70% discount to the 13 August 2026 closing price of HK$1.320 and an 18.02% discount to the five-day average closing price of HK$1.293. • Directors regard the new price and updated terms as fair and reasonable in light of current market conditions.

Revised Fund-Raising Scale and Deployment • Assuming full placement, gross proceeds are expected to reach HK$106.00 million; net proceeds, after estimated expenses, are projected at HK$104.80 million, equivalent to a net placing price of HK$1.048 per share. • Planned use of net proceeds: – HK$58.80 million (56.11%) for research and development of new IT solution products and related personnel costs; – HK$16.00 million (15.26%) for general working capital, covering staff, rental and administrative expenses; – HK$30.00 million (28.62%) to settle existing trade payables arising from procurement activities.

All other provisions of the original placing agreement remain unchanged. Completion of the transaction is contingent upon fulfillment of the agreed conditions; therefore, shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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