News

The Board is pleased to announce that the proposed resolution as set out in the Notice was duly passed by the Shareholders by way of poll at the EGM held on 6 January 2020.

The board (the “Board”) of directors (the “Directors”) of Magnus Concordia Group Limited (the “Company”) announces the unaudited condensed consolidated results of the Company and its subsidiaries (collectively referred to as the “Group”) for the six months ended 30 September 2019 with the corresponding comparative figures as follows:

The board of directors (the “Board”) of Magnus Concordia Group Limited (the “Company”) announces that a meeting of the Board of the Company will be held on Wednesday, 27 November 2019 for the purposes of, among other matters, approving the interim results of the Company and its subsidiaries for the six months ended 30 September 2019 and its publication, and considering the payment of an interim dividend, if applicable.

Reference is made to the announcement of the Company dated 28 October 2019 in relation to, among others, the proposed Rights Issue of the Company and the Underwriting Agreement (the “Announcement”). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Company proposed to raise a gross proceed of up to approximately HK$219 million before expenses by way of the Rights Issue to the Shareholders. The Rights Issue involves the issue of up to 1,986,487,450 Rights Shares at the Subscription Price of HK$0.11 per Rights Share on the basis of one Rights Share for every two existing Shares in issue on the Record Date. The Rights Issue will only be available to the Qualifying Shareholders and will not be available to the Non-Qualifying Shareholders. The maximum net proceeds from the Rights Issue after deducting the expenses are estimated to be approximately HK$213 million.