WS-SK Target Group Limited — Capital/Financing Update 2021

Sep 1, 2021

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.

SK TARGET GROUP LIMITED 瑞強集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8427)

COMPLETION OF ISSUE OF NEW SHARES TO INDEPENDENT SUBSCRIBER UNDER GENERAL MANDATE

Reference is made to the announcements of SK Target Group Limited (the “ Company ”) dated 18 August 2021 and 19 August 2021 in relation to the Subscription (the “ Announcements ”). Capitalised terms used herein shall have the same meanings as defined in the Announcements unless otherwise stated herein.

COMPLETION OF THE SUBSCRIPTION

The Board is pleased to announce that all the conditions under the Subscription Agreement had been fulfilled and completion of the Subscription took place on 1 September 2021 whereby a total of 5,205,000 Subscription Shares had been successfully subscribed by the Subscriber at the Subscription Price of HK$0.36 per Subscription Share pursuant to the terms and conditions of the Subscription Agreement entered into between the Company and the Subscriber. The Company intends to apply the entire net proceeds from the Subscription of approximately HK$1.85 million for the Group’s general working capital.

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CHANGE IN THE SHAREHOLDING STRUCTURE OF THE COMPANY

The table below sets out the changes to the shareholding structure of the Company immediately prior to and after Completion:

Merchant World InvestmentsLimited_(Note 2)Greater Elite HoldingsLimited(Note 3)_The SubscriberOther public ShareholdersTotalNotes:	Immediately prior toCompletionNumberof SharesApprox. %(Note 1)29,827,50030.4313,622,50013.90––54,575,00055.6798,025,000100.00	Immediately afterCompletionNumberof SharesApprox. %(Note 1)29,827,50028.8913,622,50013.205,205,0005.0454,575,00052.87103,230,000100.00	Immediately afterCompletionNumberof SharesApprox. %(Note 1)29,827,50028.8913,622,50013.205,205,0005.0454,575,00052.87103,230,000100.00
			100.00

1. The percentage figures have been subjected to rounding adjustments. Any discrepancies between totals and sum of amounts listed herein are due to rounding adjustments.

2. These Shares are held by Merchant World Investments Limited, a company wholly owned by Mr. Loh Swee Keong, an executive Director and chief executive officer of the Company.

3. These Shares are held by Greater Elite Holdings Limited, a company wholly owned by Mr. Law Fung Yuen Paul.

By order of the Board SK Target Group Limited Loh Swee Keong Chairman and Executive Director

Hong Kong, 1 September 2021

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As at the date of this announcement, the Board comprises one Executive Director, namely, Mr. Loh Swee Keong and three Independent Non-executive Directors, namely, Mr. Yau Ka Hei, Mr. Chu Kin Ming and Mr. Ma, She Shing Albert.

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 Company Announcements” page of the GEM website at www.hkgem.com for at least 7 days from the date of its posting and on the website of the Company at www.targetprecast.com.

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