Zhonghua Gas Holdings Ltd. Announces Strategic Allocation of Net Proceeds for Staff Costs, Office Rental, Legal Fees, and General Expenses
Zhonghua Gas Holdings Ltd. has announced its strategic plan to allocate the net proceeds from a recent subscription of new shares under a general mandate, which amounts to approximately HK$23,900,000. The company intends to utilize these funds to support its general working capital needs. Specifically, around 60% of the proceeds will be directed towards covering staff costs, including salaries, allowances, and emoluments for directors and the chief executive. Approximately 10% is earmarked for office rental expenses, 15% for legal and professional fees, and the remaining 15% for other general expenses. This plan underscores the company's focus on maintaining operational stability and ensuring efficient allocation of financial resources.
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