Flydoo Technology Holding Limited — Capital/Financing Update 2022

Nov 16, 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purpose only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company.

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WWPKG Holdings Company Limited 縱橫遊控股有限公司 (Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8069)

COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

Reference is made to the announcement issued by WWPKG Holdings Company Limited (the ‘‘Company’’) dated 25 October 2022 (the ‘‘Announcement’’) in relation to the Placing. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

COMPLETION OF THE PLACING

The Board is pleased to announce that all the conditions of the Placing have been fulfilled and completion of the Placing (the ‘‘Completion’’) took place on 16 November 2022. A total of 88,095,000 Placing Shares have been successfully placed to not less than six independent Placees at the Placing Price of HK$0.170 per Placing Share pursuant to the terms and conditions of the Placing Agreement.

The 88,095,000 Placing Shares represent (i) 18.35% of the issued share capital of the Company immediately before Completion; and (ii) approximately 15.51% of the issued share capital of the Company as enlarged by the allotment and issue of all the Placing Shares.

To the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, each of the Placees and where appropriate, their respective ultimate beneficial owners is an Independent Third Party, and none of the Placees became a substantial shareholder (as defined under the GEM Listing Rules) of the Company upon Completion.

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As disclosed in the Announcement, the net proceeds of approximately HK$13.7 million (after deduction of commission and other expenses of the Placing) from the Placing are intended to be used for general working capital of the New Business Activity and be applied in the following manner by 31 March 2023:

• (i) approximately HK$7.4 million shall be used for procurement expenses;

• (ii) approximately HK$2.4 million shall be used for staff cost;

• (iii) approximately HK$1.8 million shall be used for general and administration expenses;

• (iv) approximately HK$1.2 million shall be used for rental expenses; and

• (v) approximately HK$0.9 million shall be used for advertising and marketing expenses.

EFFECTS ON SHAREHOLDING STRUCTURE OF THE COMPANY

To the best of the Directors’ knowledge, information and belief after having made all reasonable enquiries, the shareholding structure of the Company immediately before and upon Completion is set out below:

	Immediately	before		Immediately	upon
Name of Shareholder	Completion			Completion
	Number of	Approx.	%	Number of	Approx. %
	Shares	(Note	2)	Shares	(Note 2)
WWPKG Investment
Holdings Limited (Note 1)	181,815,000	37.88		181,815,000	32.00
Public Shareholders
Placees	—		—	88,095,000	15.51
Other public Shareholders	298,185,000	62.12		298,185,000	52.49
Total	480,000,000	100.00		568,095,000	100.00

Notes:

1. WWPKG Investment Holdings Limited (‘‘WWPKG Investment’’) is an investment holding company incorporated in the British Virgin Islands and is owned as to 68.02%, 23.42% and 8.56% by Ms. Chan Suk Mei (‘‘Ms. Chan’’), Mr. Yuen Sze Keung (‘‘Mr. SK Yuen’’) and Mr. Yuen Chun Ning, respectively. Ms. Chan and Mr. SK Yuen are parties acting jointly and are therefore deemed to be interested in all the Shares held by WWPKG Investment under the SFO.

2. The above percentage figures are subject to rounding adjustments. Accordingly, figures shown as total may not be an arithmetic aggregation of the figures preceding it.

By Order of the Board

WWPKG Holdings Company Limited Yuen Chun Ning Chairman and Executive Director

Hong Kong, 16 November 2022

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As at the date of this announcement, the executive Directors are Mr. Yuen Sze Keung, Ms. Chan Suk Mei, Mr. Yuen Chun Ning, Ms. Shawlain Ahmin and Mr. Choi Kam Yan Simon; and the independent non-executive Directors are Mr. Lee Hing Cheung Eric, Mr. Lee Kwong Ming and Ms. Gao Lili.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the ‘‘Latest Listed Company Information’’ page of the website of the Stock Exchange at www.hkexnews.hk for at least seven days from the date of its posting and on the Company’s website at www.wwpkg.com.hk.

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