Min Fu International Holding Limited (08511) disclosed additional data related to the annual report for the financial year ended 31 March 2025. The content focuses on the use of proceeds from a rights issue completed on 2 August 2023 and on the Company’s share option scheme.
The net proceeds from the rights issue were approximately HK$22.34 million, initially allocated as HK$14.70 million for upfront working capital under an Equipment Manufacturing and System Construction Service Agreement, HK$1.50 million for the recruitment of I.T. talents, and HK$6.10 million for general working capital. On 18 March 2024, HK$8.30 million originally planned for the service agreement was reallocated to cover general working capital, completing the total utilization of HK$22.34 million.
Additionally, the share option scheme, conditionally adopted on 26 March 2018 and effective from the listing date, had 1,000,000 shares available for issue as at the date of the 2025 annual report. This figure represented about 3.86% of the total issued shares at that time.