V&V TECH (08113) received a 70.6% effective acceptance rate for its rights issue, raising approximately HK$22 million.

V&V TECH (08113) announces that all conditions relating to the rights issue as set out in the prospectus have been fulfilled, and the rights issue became unconditional on 13th July 2026 (Monday) at 4:00 pm. The deadline for accepting the rights issue shares, paying the subscription price, and applying for additional rights issue shares was 10th July 2026 (Friday) at 4:00 pm. (i) A total of 7 valid acceptances have been received for the provisional allotments under 513.296 million shares of rights issue shares, representing approximately 70.6% of the total rights issue shares available for subscription of 726.812 million shares; and (ii) A total of 2 valid applications have been received for additional rights issue shares under 212.16 million shares, representing approximately 2.9% of the total rights issue shares available for subscription of 726.812 million shares. According to commitments, Timeless Investment and Dr. Yan have respectively subscribed for 42.9642 million shares of rights issue shares and 6.4684 million shares of rights issue shares allotted to them under the provisional allotment notices, subject to compliance with the public shareholding requirements under the GEM Listing Rules. In summary, a total of 9 valid acceptances and applications have been received under the provisional allotment notices and additional application forms, involving a total of 534.512 million rights issue shares, representing approximately 73.5% of the total rights issue shares available for subscription of 726.812 million shares. Based on the above results, there is a shortfall of 21.3516 million shares in the rights issue subscription, representing approximately 29.4% of the total rights issue shares available for subscription of 726.812 million shares. Due to the shortfall in rights issue subscriptions, the directors believe that all valid applications for additional shares should be accepted, and in accordance with the rights issue reduction mechanism described in the following section of this announcement, a total of 21.216 million excess rights issue shares will be issued and allotted to the relevant applicants, deemed fair and reasonable. The total proceeds from the rights issue fundraising are approximately HKD 228 million, with a net amount of approximately HKD 220 million after deducting expenses. The Company intends to utilize the net proceeds in the manner disclosed in the section "Board of Directors Letter - Reasons for Rights Issue and Use of Proceeds" in the rights issue prospectus. Payment for the rights issue shares is expected to commence trading on the Hong Kong Stock Exchange on 21st July 2026 (Tuesday) at 9:00 am.