Anchorstone Holdings has unveiled a capital plan featuring three key components: an authorised share capital increase, a 4-for-1 non-underwritten rights issue and a loan set-off arrangement with its controlling shareholder.

The board will seek shareholder approval on 8 April 2026 to expand authorised share capital from 500.00 million shares to 4.00 billion shares. Conditional on that approval, the company will launch a rights issue of up to 1.16 billion new shares at HK$0.105 each, on the basis of four rights shares for every existing share held on 20 April 2026.

Gross proceeds could reach HK$121.60 million; after deducting expenses and the loan set-off, net proceeds are estimated at HK$61.80 million–HK$62.60 million, depending on the final placing outcome. Anchorstone intends to allocate about HK$41.80 million to repay overdue bank borrowings and interest, HK$20.30 million to settle trade and other payables, and roughly HK$0.50 million for general working capital.

Executive chairman and 47.62% shareholder Mr Lui Yue Yun Gary has signed an irrevocable undertaking to subscribe for his full entitlement of 551.54 million rights shares. The HK$57.90 million subscription cost will be set off against shareholder loans of approximately HK$71.00 million (5% p.a. interest, maturing 31 December 2027) owed by the Group. Any remaining loans will stay in place; if the set-off is not approved, Mr Lui will fund the subscription in cash.

The subscription price represents a 30.00% discount to the HK$0.150 closing price on 14 January 2026 (last trading day before the announcement), a 28.57% discount to the five-day average of HK$0.147, and a 7.89% discount to the theoretical ex-rights price of HK$0.114. The theoretical dilution effect is calculated at 24.00%.

Because the exercise is not underwritten, any rights not taken up will be placed on a best-effort basis by Sun Securities. Unplaced shares will be cancelled, reducing the issue size.

Upon full subscription, the company’s share base would expand from 289.56 million to 1.45 billion shares, while Mr Lui’s stake could rise to 47.62% unless scaled down to avoid triggering a mandatory general offer.

The extraordinary general meeting will be held on 8 April 2026. Shares will trade ex-rights from 10 April 2026, nil-paid rights will trade 23–30 April 2026, and the last day for acceptances and payments is 6 May 2026. Fully paid rights shares are expected to start trading on 4 June 2026.