Synagistics Limited — Capital/Financing Update 2022

Sep 27, 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.

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WEALTHKING INVESTMENTS LIMITED 華 科 資 本 有 限 公 司

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 1140)

COMPLETION OF ISSUE AND ALLOTMENT OF NEW SHARES FOR SUBSCRIPTION UNDER GENERAL MANDATE

References are made to the announcement dated 5 September 2022 (the ‘‘Announcement’’) and the announcement dated 19 September 2022 issued by the Company. Terms used herein shall have the same meanings as defined in the Announcement unless the context requires otherwise.

COMPLETION OF THE SUBSCRIPTION

The Board is pleased to announce that the conditions precedent as set out in the Subscription Agreement have been satisfied and that the Subscription has been completed. A total of 1,605,150,622 Subscription Shares at the Subscription Price of HK$0.50 per Subscription Share were issued and allotted to the Subscriber in accordance with the terms and conditions of the relevant Subscription Agreement on 27 September 2022.

To the best knowledge, information and belief of the Directors having made all reasonable enquiries, the Subscriber is a professional investor and upon completion of the Subscription, the Subscriber, Blossom International and their ultimate beneficial owner (namely, Ms. Yang Fang) will become substantial shareholders of the Company and hence connected persons of the Company.

The total amount of the net proceeds from the Subscription (after deducting all related expenses) received from the Subscriber is approximately HK$802 million. The net proceeds from the Subscription will be used to capture potential investment opportunities in line with the Group’s investment strategy, which is comprised of three pillars, namely (i) coreholding-centered private equity investment as long-term investment, (ii) portfolio management as mid- to long-term investments, and (iii) trading and others as short-term investments.

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CHANGES TO THE SHAREHOLDING AS A RESULT OF THE SUBSCRIPTION

Set out below is a table showing the shareholding structure of the Company (i) immediately before completion of the Subscription; and (ii) immediately after completion of the Subscription:

	Immediately before completion	Immediately before completion	Immediately after	completion of
Name of Shareholder	of the Subscription		the Subscription
	No. of Shares	Approximate %	No. of Shares	Approximate %
Dr. Liu Zhiwei and his associates (Note 1)	2,020,307,130	25.17	2,020,307,130	20.98
Bright Victory International Limited	1,442,260,870	17.97	1,442,260,870	14.98
Hong Sheng Universe Limited	812,263,200	10.12	812,263,200	8.43
Subscriber	0	0.00	1,605,150,622	16.67
Public Shareholders	3,750,921,913	46.74	3,750,921,913	38.94
Total:	8,025,753,113	100.00	9,630,903,735	100.00

Note:

1. Dr. Liu Zhiwei is a connected person of the Company by virtue of him being an executive Director.

By order of the Board Wealthking Investments Limited Liu Zhiwei Executive Director and Chairman

Hong Kong SAR, 27 September 2022

As at the date of this announcement, the Board comprises one executive Director, namely, Dr. Liu Zhiwei; two non-executive Directors, namely Dr. Fu Weigang and Dr. Wang Shibin; and three independent non-executive Directors, namely, Mr. Chen Yuming, Mr. Yan Xiaotian and Mr. Zhao Kai.

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