DEEP SOURCE (00990) announced that on December 18, 2025, the company entered into a subscription agreement with no fewer than six subscribers. Under the agreement, the subscribers agreed to subscribe, and the company agreed to allot and issue a total of 515 million new shares at a subscription price of HK$0.69 per share, subject to the terms and conditions of the agreement.

The subscription price represents a discount of approximately 1.4% to the closing price of HK$0.70 per share on the Hong Kong Stock Exchange on December 18, 2025 (the date of the subscription agreement). The number of subscription shares accounts for about 3.6% of the total issued shares as of the announcement date and approximately 3.5% of the enlarged issued share capital upon completion of the subscription.

The gross proceeds from the subscription are expected to be approximately HK$355.4 million. After deducting all fees, costs, and expenses borne by the company, as well as other related expenses incurred for the subscription, the net proceeds are estimated to be around HK$355.3 million. Consequently, the net subscription price per share after deductions remains at HK$0.69.