Madison Holdings Group Limited announced a revised allocation of proceeds raised from its May 2026 rights issue. Of the HK$14.99 million originally earmarked for early repayment of a HK$16.99 million loan carrying 12% annual interest, a “substantial portion” will now be used to settle overdue trade payables after suppliers issued payment demands and threatened legal action in June–July 2026.

Management stated that the shift in priority is intended to avert potential litigation and preserve supplier relationships in the Group’s wine and alcoholic-beverage wholesale and retail operations. Following the reallocation, approximately HK$6.79 million—about 45.3% of the outstanding high-cost loan—remains scheduled for repayment by end-December 2026.

The change will delay the complete early repayment timetable for the Other Borrowings, which are due in 38 tranches between December 2025 and April 2028. Nevertheless, the Board believes the adjustment will not materially affect Madison Holdings’ financial or trading position and confirms that the Group has sufficient expected operating cash flow to meet future debt obligations as they fall due. No additional fundraising for loan repayment is planned over the next 12 months.

All other details of the 20 July 2026 announcement on the proposed change in use of proceeds remain unchanged.