TOPSTANDARDCORP (ASX: 08510) has entered into two separate subscription agreements with subscribers following the close of trading on the Hong Kong Stock Exchange on June 1, 2026.

Under these agreements, the company, acting as the issuer, has conditionally agreed to allot and issue a total of 62.5 million subscription shares to the subscribers.

The subscription price is set at HKD 0.16 per share.

Assuming no changes to the company's issued share capital between the date of this announcement and the completion date, the subscription shares represent approximately 26.2% of the existing issued share capital and about 20.7% of the enlarged issued share capital following the allotment and issuance.

The subscription price of HKD 0.16 per share represents a 20.0% discount to the closing price of HKD 0.20 per share on the Hong Kong Stock Exchange on June 1, 2026.

Assuming all subscription shares are fully taken up, the gross proceeds from the subscription will amount to HKD 10 million.

The net proceeds, after deducting all related expenses, are estimated to be approximately HKD 9.9 million, equivalent to a net price of about HKD 0.158 per subscription share.

The company intends to use the net proceeds, after deducting relevant fees and commissions, for the following purposes: HKD 6 million for the procurement and installation of equipment; HKD 1 million for the purchase of mushroom spores; HKD 1 million for rental expenses; and HKD 2 million for general working capital.