Litian Pictures (09958) plans to increase the authorized share capital to HK$40 million to issue shares according to the “1 for 4” basis

Zhitong Finance App News, Litian Pictures (09958) announced that the board of directors proposed increasing the company's authorized share capital from HK$5 million (divided into 500 million shares with a face value of HK$0.01 per share) to HK$40 million (divided into 4 billion shares with a face value of HK$0.01 per share) by adding an additional 3.5 billion unissued shares with a face value of HK$0.01 per share.

After the increase in authorized share capital takes effect and the independent shareholders approve it at the special shareholders' meeting, the board of directors proposes to issue up to 2 billion shares according to the “1 to 4” basis. The shares offered shares are HK$0.095 million, and the maximum amount raised is about HK$190 million.

The maximum net proceeds from the share offering are approximately HK$188 million, or about 50.0% to repay the Group's existing debts and trade and other accounts payable; about 30.0% to expand the company's existing business, including developing and producing movies and/or TV series; and approximately 20.0% to supplement the Group's general working capital.

The Board of Directors proposed changing the trading unit for each lot of shares traded on the Stock Exchange from 1,000 shares to 10,000 shares, with effect from 9:00 a.m. on October 9, 2026 (Friday).