Contel boosts authorised capital tenfold to HK$200.00 million and issues 329.44 million new shares in July

Bulletin Express
Aug 19

Contel Technology Company Limited (Contel) has filed a resubmitted Monthly Return for the period ended 31 July 2026, detailing significant capital structure changes.

Authorised share capital expanded: • Following shareholder approval on 14 July 2026, authorised share capital rose from 200 million ordinary shares to 2.00 billion, each with a par value of HK$0.10. The authorised capital hence climbed from HK$20.00 million to HK$200.00 million.

Issued share count up 150%: • Total issued shares (excluding treasury shares) increased by 329.44 million during July to 461.21 million, versus 131.77 million at end-June. • The new shares were placed and subscribed on 29 July 2026 under: – A subscription agreement (signed 5 May 2026, amended 8 June 2026) for 271.23 million shares. – A placing agreement (8 June 2026) for 58.21 million shares. • All new shares were issued at HK$0.265 each, implying gross proceeds of approximately HK$87.30 million.

Public float intact: • Despite the enlarged share base, Contel confirmed compliance with the Main Board’s minimum 25% public float requirement as at 31 July 2026.

Share option position unchanged: • No options were exercised during the month. The 2019 share option scheme retains 8.00 million outstanding options, representing potential further dilution if exercised. No new options were granted in July.

Treasury and other securities: • Contel held no treasury shares, and there were no warrants, convertibles, or other equity-linked instruments issued or outstanding during the month.

The company stated that all issuances were duly authorised and complied with Hong Kong Listing Rules and relevant regulations.

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