GCL New Energy said it signed a supplemental subscription and investment agreement with Pharos to issue up to 183.48 million new shares at HKD 1.05 per share. The new shares represent about 12% of issued share capital as of the announcement date and about 11% of the enlarged share capital after the issue. The issue price represents a 20% discount to the closing price on 12 March 2026. Completion is structured in five tranches, with 50% of the new shares issued in the first tranche and four subsequent tranches of 13% each. After completion of all tranches, Pharos would hold about 11% of GCL New Energy’s enlarged share capital.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. GCL New Energy Holdings Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260312-12050407), on March 12, 2026, and is solely responsible for the information contained therein.