NEW CITY DEV (00456) has announced the fulfillment of all conditions precedent under the subscription agreement (as supplemented). In accordance with the terms and conditions of the supplemented agreement, the subscription was completed on May 22, 2026. The company has successfully allotted and issued a total of 27.649 million subscription shares. This represents approximately 14.82% of the company's issued share capital immediately before the completion of the subscription, and approximately 12.91% of the enlarged issued share capital following the issuance of the subscription shares. The net proceeds from the subscription amount to approximately HK$10.345 million. The company intends to use the net proceeds for general working capital purposes, including payments for rent, salaries, and other administrative and operational expenses.