[ET Net News Agency, 30 October 2019] Li Bao Ge Group Limited (01869) said the board
proposes to implement a rights issue on the basis of one rights share for every four
existing shares held on the record date at the subscription price of HK$0.238 per rights
share, to raise gross proceeds of approximately HK$47.6 million before expenses, by way of
the rights issue of 200 million rights shares to the qualifying shareholders.
The estimated net proceeds are estimated to be approximately HK$45.6 million, which are
intended to be applied for (i) repayment of the group's indebtedness and interest
expenses; (ii) payment of renovation and refurbishment costs incurred for recently opened
restaurants and other existing restaurants; and (iii) general working capital for the
group. (RC)