ASIAN CITRUS (00073) announces a non-underwritten rights issue of up to 44.70 million new shares on the basis of three Rights Shares for every existing share held on the 18 Aug 2026 record date. The subscription price is set at HK$1.38 per Rights Share, reflecting a 28.13% discount to the 15 Jun 2026 closing price and implying a theoretical dilution of 23.86%.

Gross proceeds may reach HK$61.70 million; net proceeds are estimated at HK$58.50 million. Planned allocation: 57.3% (about HK$33.50 million) for temperature-controlled equipment and cold-chain solutions; 18.8% (around HK$11.00 million) for loan repayments and interest; 5.1% (approximately HK$3.00 million) for raw materials and farming consumables; and the remaining 18.8% (about HK$11.00 million) for general working capital.

Major shareholder Kung Chak Ming, holding 29.86% of existing shares, has irrevocably undertaken to subscribe in full for his 13.35 million assured Rights Shares and agreed to a “scale-down” mechanism to avoid triggering a mandatory general offer. Any Rights Shares not taken up will be placed by Kam Fai Securities on a best-effort basis at not less than the subscription price, with a 1% placing commission (minimum HK$100,000). No excess application will be offered; unsubscribed shares will be disposed through compensatory arrangements.

Key timetable: shareholders vote at a special general meeting on 6 Aug 2026; ex-rights trading starts 10 Aug 2026; nil-paid Rights Shares trade 21–28 Aug 2026; latest acceptance is 2 Sep 2026; results to be announced on 21 Sep 2026; fully-paid Rights Shares begin trading on 23 Sep 2026. The rights issue will proceed regardless of subscription level once conditions are satisfied.