Culturecom : COMPLETION OF SUBSCRIPTION OF NEW SHARES UNDER SPECIFIC MANDATE
May 07, 2021 at 01:43 am IST
Share
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock Code: 00343)
COMPLETION OF
SUBSCRIPTION OF NEW SHARES UNDER SPECIFIC MANDATE
References are made to the announcements of the Company dated 1 March 2021 and the Circular of the Company dated 9 April 2021 (the "Circular") in relation to, among others, the allotment and issue of Subscription Shares under Specific Mandate. Capitalised terms used herein shall have the same meanings as defined in the Circular unless the context requires otherwise.
COMPLETION OF THE SUBSCRIPTION
The Board is pleased to announce that all conditions precedent in respect of the Subscription set out under the section headed "Conditions Precedent" in the "Letter from the Board" in the Circular have been fulfilled and Completion of the Subscription has taken place on 6 May 2021 (the "Completion Date").
On the Completion Date, the Company received the aggregate Subscription Price of approximately HK$41,700,000 from the Subscribers and issued a total of 278,000,000 Subscription Shares at the Subscription Price of HK$0.15 per Subscription Share in accordance with the terms and conditions of the Subscription Agreement. Accordingly, immediately after Completion of the Subscription, there are 1,668,656,816 Ordinary Shares in issue.
EFFECT ON THE SHAREHOLDING STRUCTURE
The shareholding structure of the Company (i) immediately prior to the Completion; and (ii) immediately following the Completion are summarised as follows:
Name of Shareholder
Immediately prior to
Immediately following
the Completion
the Completion
Number of Shares
%
Number of Shares
%
Mr. Dizon Basilio and
323,360,112
23.25%
323,360,112
19.38%
his associates (Note 1)
Mr. Huang Mingguo
14,460,000
1.04%
14,460,000
0.87%
(Note 2)
Jet Victory Investments
500,000
0.04%
500,000
0.03%
Limited (Note 2)
The Subscriber
-
-
278,000,000
16.66%
Other Shareholders
1,052,336,704
75.67%
1,052,336,704
63.06%
Total
1,390,656,816
100.00%
1,668,656,816
100.00%
Notes:
These 323,360,112 Shares are held by Mr. Dizon Basilio ("Mr. Dizon"), Ms. Chow Lai Wah Livia ("Ms. Chow") and L&W Holding Limited ("L&W") as to 18,895,000 Shares, 32,962,800 Shares and 271,502,312 Shares, respectively. L&W is owned as to 65% and 35% by Mr. Dizon and Ms. Chow, respectively. Ms. Chow is the spouse of Mr. Dizon and an executive Director.
Jet Victory Investments Limited is wholly and beneficially owned by Mr. Huang Mingguo, an executive Director.
By Order of the Board
Culturecom Holdings Limited
Kwan Kin Chung
Managing Director
Hong Kong, 6 May 2021
As at the date hereof, the Board comprises of Ms. Chow Lai Wah Livia (being the Vice Chairman and Executive Director); Mr. Huang Mingguo, Mr. Kwan Kin Chung and Mr. Yuen Kin (all being Executive Directors); and Mr. Wong Kwan Kit, Mr. Fan Chun Wah Andrew and Mr. Mung Yat Lik (all being Independent Non-executive Directors).
for identification purpose only
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Culturecom Holdings Limited published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 19:40:27 UTC.
Culturecom Holdings Ltd is an investment holding company principally engaged in the digital marketing business. The Company operates its business through three segments. The Digital Marketing segment is engaged in the provision of digital marketing and communication, intellectual property (IP) digitalisation and agency of IP services. The Publishing and IPs Licensing segment is engaged in the publication of comic books and licensing IPs of comics businesses. The Retailing and Wholesales segment is engaged in the retailing of wine in Hong Kong.