Zhi Shu Technology Group Says Share Placement Agreement Lapses

Zhi Shu Technology Group (01159) said its share placement agreement under a general mandate has lapsed and that the failure will have no material adverse impact on its business, according to ETNet. The company said the conditions precedent to the placement were not met on or before the deadline. In June, it disclosed plans to place up to 28.3 million new shares at HK$1.80 each to raise up to HK$50.9 million, and said it will continue to seek fundraising opportunities.