SHEUNG YUE GP (01633) proposes rights issue on a 2-for-1 basis.

SHEUNG YUE GP (01633) announces that the board proposes a rights issue on the basis of one rights share for every two shares held on the record date, at a subscription price of HK$0.100 per rights share, to issue up to 342 million rights shares to qualifying shareholders by way of rights issue to raise gross proceeds of approximately HK$34.2 million (before deducting expenses) (assuming no further shares are issued or repurchased on or before the record date). The rights issue is only available to qualifying shareholders and will not be offered to excluded shareholders. After deducting all necessary expenses, the estimated net proceeds from the rights issue (if fully subscribed) are estimated to be approximately HK$32.9 million (assuming no further shares are issued or repurchased on or before the record date).