According to the Zhitong Finance App, Southern Manganese (01091) announced that on August 18, 2026, the company plans to place up to 987 million shares placed, equivalent to 20% of the total number of shares issued on the date of this announcement; and about 16.67% of the total number of issued shares after allotment and the expansion of the placed shares. The placement price was HK$0.314 per share, a discount of approximately 18.44% from the closing price of HK$0.385 per share on August 18. Assuming that all shares are placed, the total proceeds from the placement are expected to be approximately HK$310 million, while the net proceeds from the placement are expected to be approximately HK$303.5 million. The Company intends to use the net proceeds from the placement as follows: approximately 95% of the net proceeds will be used to repay the Group's outstanding bank and other loans and interest; and approximately 5% of the net proceeds will be used as the Group's general working capital.

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