Wan Leader International Limited has signed a connected subscription agreement with its chairman, CEO and executive director, Loy Hak Yu Thomas, to raise about HK$4.67 million through the issue of 44.92 million new shares at HK$0.104 each.

The proposed shares equal roughly 25% of Wan Leader’s existing share capital and 20% of the enlarged total. Net proceeds, estimated at HK$4.55 million after expenses, are earmarked for (1) HK$3.00 million to hire additional operational staff for new logistics routes, and (2) HK$1.55 million for general working capital.

Pricing metrics: • Subscription price matches the HK$0.104 closing price on 16 July 2026, the last trading day before the deal was signed. • Represents a 24.6% discount to the HK$0.138 closing price on the 14 August 2026 Latest Practicable Date. • Equals the five-day average closing price prior to signing and shows a 5.4% discount to the ten-day average.

Post-deal shareholding (assuming no other changes): • Cargo Man Logistics Company: 19.13% (unchanged in absolute terms) • Hongkong ZCFT International: 5.34% (unchanged) • Subscriber Loy Hak Yu Thomas: 20.00% (via direct holding plus 200 shares through Ho Tat) • Public float: reduced from 69.40% to 55.52%

Conditions precedent include independent shareholder approval at an extraordinary general meeting on 18 September 2026, and Stock Exchange approval for listing the new shares. Completion is scheduled for the fourth business day after all conditions are met, with a long-stop date of 16 October 2026.

The Subscriber has agreed to a six-month lock-up period during which no disposals or hedging of the new shares are permitted.

Directors cite the need for capital to develop air-freight and multimodal logistics routes into the Middle East, North America and Central America amid shifting geopolitical and supply-chain dynamics. They ruled out debt financing and broader equity offerings due to higher costs, longer execution timelines and uncertainty over investor take-up.

As the Subscriber is a connected person, the transaction constitutes a connected transaction under GEM Listing Rules, requiring approval by independent shareholders. Only the Subscriber’s associate Ho Tat Limited (holding 200 shares) will abstain from voting. No other shareholders are required to abstain.

If completed, the transaction will increase Wan Leader’s net assets and cash by approximately HK$4.55 million, bolstering the group’s liquidity for its planned expansion.