StarGlory Holdings details revised utilisation schedule for HK$11.70 million subscription proceeds

Bulletin Express
Apr 15

StarGlory Holdings Company Limited released a supplemental announcement clarifying the expected timetable for deploying the remainder of the HK$11.70 million net proceeds raised from its earlier subscription exercise. The update amends information contained in the FY-2025 annual report and the interim report for the six months ended 30 September 2025.

As at 31 March 2025, HK$0.90 million had been spent, leaving HK$10.82 million unutilised. The Board set the following targets for deployment:

• Operation of the existing food and beverage business: HK$3.00 million, with completion originally slated for 30 June 2025. • Corporate expenses: HK$4.10 million, to be used by 30 June 2026. • Expansion of the renewable energy and new material business: HK$3.70 million, also to be used by 30 June 2026.

Subsequent spending up to 30 September 2025 reduced the outstanding balance to HK$4.30 million, broken down as follows:

• Food and beverage operations: HK$0.50 million remaining, now scheduled for utilisation on or before 31 March 2026 following an adjustment in operational plans. • Corporate expenses: HK$3.80 million, with the timeline unchanged at 30 June 2026. • Renewable energy and new material initiatives: allocation fully utilised by 30 September 2025.

The Board emphasised that these timelines reflect current market conditions and business requirements and may be adjusted if circumstances change. It also stated that extending the deadline for food and beverage spending aligns with corporate strategy and does not materially affect overall operations. All other information in the 2025 annual and interim reports remains unchanged.

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