JX ENERGY (03395) Issues Approximately 1.99 Million New Shares at 7% Discount as Part of CFO and Joint Company Secretary's Departure Compensation

Stock News
2025/10/31

JX ENERGY (03395) announced that on October 30, 2025 (after trading hours, Hong Kong time), the company reached an agreement with Ms. Tara Suzanne Leray as part of her departure compensation package following her resignation as Chief Financial Officer and Joint Company Secretary, effective from October 31, 2025. Under the agreement, the company will allot and issue a total of 1,987,925 new ordinary shares with no par value, while Ms. Leray will subscribe to these shares at an issue price of HK$0.279 per share. This represents a discount of approximately 7% compared to the closing price of HK$0.30 per share on the Hong Kong Stock Exchange on October 30, 2025. The company stated that this subscription allows it to fulfill the payment obligations to Ms. Leray under the departure terms without utilizing existing internal financial resources, thereby avoiding cash outflow.

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