mtgarenacrash| China Sky Chemical (00362.HK) plans to discount approximately 2.0% and place up to 300 million shares with a net raise of HK$29.4 million

Gelonghui May 20 丨 China Tiantian Chemical (00362mtgarenacrash.HK) AnnouncementmtgarenacrashOn May 20, 2024, the Company entered into a placing agreement with the placing agent, pursuant to which the placing agent agreed to act as the Company's agent to procure on a best efforts basis not less than six placees (whose ultimate beneficial owners, if applicable, must be independent third parties) to subscribe for up to 300 million placing shares at a placing price of HK$0.1 per placing share.

The placing price of HK$0.1 per placing share represents a discount of approximately 2.0% to the closing price of HK$0.102 per share of the shares quoted on the Stock Exchange on May 20, 2024 (the date of the placing agreement); the maximum placed shares account for approximately 22.20% of the company's issued share capital as enlarged by the allotment and issue of 300 million placing shares. After deducting related expenses (including but not limited to placing commissions, legal fees and expenses) of approximately HK$600,000, the net proceeds are estimated to be approximately HK$29.4 million, or the net issue price per placing share is approximately HK$0.098.

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