TIMELESS (08028) announced that on March 23, 2026 (after trading hours), the placing agent, EDDID Securities and Futures Limited, and the company's indirect non-wholly-owned subsidiary, Silver Age Limited, entered into a placing agreement. Under this agreement, the placing agent conditionally agreed to use its best efforts to place a maximum of 40,000 placing tokens, minted by Silver Age Limited, to placees. The placing price will be determined by reference to the prevailing LBMA silver price on the business day immediately preceding the completion date. Assuming all placing tokens are successfully placed, the net proceeds from the placement are estimated to be approximately HK$22.579 million, based on the LBMA silver price from the business day immediately preceding the date of this announcement. The actual net proceeds will depend on the final placing price determined at completion and may differ from the estimated amount. The company intends to use the net proceeds from the placement as working capital to support the ongoing development of the group's precious metals sales business. The original purchase cost of the related physical silver assets backing the placing tokens is approximately HK$14.293 million. Based on the LBMA silver price from the business day immediately preceding the date of this announcement and assuming all placing tokens are placed, the company expects to recognize an estimated gain of approximately HK$8.286 million from the placement. This gain is calculated as the difference between (i) the total consideration receivable from the placement and (ii) the original purchase cost of the related physical silver assets backing the placing tokens. The company's actual gain is subject to audit and depends on the final placing price determined at completion, which may differ from the estimate. The company believes that blockchain technology will transform the global operational model for precious metals. The placement represents a significant opportunity for the group to promote the digitization and tokenization of traditional precious metals trading, unlocking the potential of the precious metals market. The placement will also enable the group to support its precious metals operations using emerging blockchain technology, thereby enhancing its market influence and competitiveness.