ABC MULTIACTIVE has entered into a placement agreement with a placing agent. The company has appointed the agent to place up to 120 million shares to a minimum of six independent placees at HK$0.10 per share, on a best-efforts basis, subject to the fulfillment of conditions precedent.

The placement price of HK$0.10 per share represents a discount of approximately 6.5% compared to the closing price of HK$0.107 per share on the date of the agreement. It also represents a premium of about 15.5% over the average closing price of HK$0.0866 per share for the five trading days immediately preceding the agreement date.

Assuming the full placement of the 120 million shares, this amount would represent approximately 20.00% of the company's current issued share capital of 599 million shares. It would also account for about 16.67% of the enlarged issued share capital post-placement.

If all placement shares are successfully issued, the gross proceeds are estimated to be around HK$12.0 million, with net proceeds expected to be approximately HK$11.5 million.

The company intends to allocate roughly 70% of the net proceeds, or about HK$8.0 million, towards the repayment of a promissory note. The remaining 30%, approximately HK$3.5 million, is earmarked for the group's general working capital purposes.