EPI (Holdings) Limited (689) announced a plan to issue up to 1.24 billion Rights Shares on the basis of two Rights Shares for every one Share held. The Subscription Price is HK$0.16 per Rights Share, targeting gross proceeds of approximately HK$198.20 million before fees and expenses. The company estimates net proceeds at about HK$192.70 million.

According to the announcement, the majority of the net proceeds (HK$100.00 million) is earmarked to expand the money lending business in New Zealand, HK$30.00 million will fund the drilling of three new wells and related production facilities under existing farm-in agreements or potential cooperation in Canada, HK$20.00 million will support drilling works to enhance production at existing Canadian oil fields, HK$20.00 million is reserved for possible acquisitions or investments, and HK$22.70 million is for general working capital.

The Special General Meeting to approve the Rights Issue will take place on 6 March 2026. Completion of the Rights Issue is subject to meeting all conditions, including the Underwriting Agreement with GLAM Capital Limited (underwritten on a best-effort, non-fully underwritten basis). If any conditions are not fulfilled, the Rights Issue will not proceed. All Qualifying Shareholders can subscribe or apply for excess Rights Shares as stipulated in the announcement. The final allotment results are planned for mid-April 2026, provided all requirements are met.