[ET Net News Agency, 21 January 2020] Imagi International Holdings Limited (00585) said
for the year ended 31 December 2019, the group expects to record an increase in
consolidated net loss after tax by not less than 35% as compared to that for the
corresponding period last year.
The increase in loss is mainly attributable to (i) increase in legal and professional
fee for an on-going corporate exercise in relation to a very substantial acquisition and
reverse takeover involving a new listing application carried out during the year; (ii)
interest expenses of approximately HK$14 million arising from the HK$1 billion 10% 3-years
guaranteed notes issued by the group on 13 November 2019; and (iii) net effect of the
aggregate net realised loss from the sale of listed equity of approximately HK$80 million
as compared to approximately HK$16 million for the previous year while losses from changes
in fair value of financial assets classified as held-for-trading of approximately HK$28
million as compared to approximately HK$107 million for the previous year. (RC)