Vip.Com And Windcreek Have 0.83% Stake In Urban Beauty.

The Hong Kong stock company urban beauty (Stock Code: 2298) issued a notice recently announcing the subscription agreement with Windcreek, image architecture investment, vip.com and QuickReturns (subscribers).

Accordingly, the subscriber has already agreed to subscribe and the company has agreed to distribute and issue 121443213 shares of the 121443213 shares on the basis of the subscription price of HK $4.20 per share and the terms and conditions set out in the subscription agreement.

The number of subscribed shares is equivalent to (a) the company has about 2140952000 shares of the issued share capital on the date of this announcement; and (b) the company has expanded its issued share capital by about 2262395213 shares after the paction, which is about 5.37%.

The subscription price of HK $4.20 per share is equivalent to:

(a) the closing price of HK $4.99 per share in the stock exchange of April 26, 2018 was about 15.83% discount; and (b) the average closing price of HK $4.942 per share at the last 5 consecutive trading days before the date of the subscription agreement was approximately 15.01%.

Subscribed shares will be issued under general authorization.

Therefore, the issue of subscription shares is not subject to shareholder approval.

The company will apply to the stock exchange listing committee to approve the subscription and sale of shares.

The total and net proceeds from subscription will be approximately HK $510061495 and HK $509000000 respectively.

The net issue price will be approximately HK $4.19 per share.

The net proceeds from the subscription will be used by the company as a sales and distribution channel reform, a potential merger, acquisition and cooperation project and general liquidity fund.

After the completion of the paction, vip.com and image architecture investment will hold 0.83% stake in urban beauty, Windcreek won 2.48% stake, QuickReturns won 1.24% stake.