According to Gelonghui, Cherish Sunshine (01094. HK) announced that the Board of Directors proposed to seek the approval of the shareholders to increase the authorized share capital from HK $50 million (divided into 400 million ordinary shares and 100 million preferred shares with a par value of HK $10 each) to HK $500 million (divided into 4.9 billion ordinary shares and 100 million preferred shares with a par value of HK $10 each) through an ordinary resolution at the special general meeting of shareholders.

The company proposes to issue HK $0.63 per share for each 8 shares held by eligible shareholders on the record date (i) issue 190 million rights shares through rights issue to raise about HK $119.6 million (before deducting expenses) (assuming that the company's share capital will not change on or before the record date, except for the issuance of 10.769 million new shares for the purpose of cashing in the bonus shares after the special general meeting of shareholders of share awards); Or (ii) issue 201 million rights issue shares through rights issue to raise about HK $126.9 million (before deducting expenses) (assuming that the company's share capital has not changed on or before the record date, except for the issuance of 10.769 million new shares and all convertible bonds for the purpose of cashing in the bonus shares after the special general meeting of shareholders of share awards). The rights issue will not be submitted to unqualified shareholders. To

The estimated net proceeds of the rights issue (after deducting all necessary expenses) (i) is about HK $117.1 million (assuming that the share capital of the company has not changed on or before the record date, except for the issuance of 10.769 million new shares for the purpose of cashing in the bonus shares after the special general meeting of the shareholders of the share award); Or (ii) about HK $124.4 million (assuming that the share capital of the company has not changed on or before the record date, except for the issuance of 10.769 million new shares and all convertible bonds for the purpose of cashing in the bonus shares after the special general meeting of the shareholders of the share award).