Allied Group (00373.HK): Asia Pacific Resources Rights Issue Underwriting Terminated, Irrevocable Commitment Lapses
On June 26, 2026, Allied Group Limited (00373.HK) announced, with reference to the announcement dated May 28, 2026, regarding the irrevocable undertaking entered into by Allied Properties Investments (1) Company Limited, an indirect wholly-owned subsidiary of the Company, to (i) subscribe for its quota of 349,094,156 Asia Pacific rights issue shares for HKD506,186,526.20 (excluding transaction costs); and (ii) apply for an additional 43,900,000 shares for HKD63,655,000.00 (excluding transaction costs), equivalent to HKD1.45 per share.
Asia Pacific Resources received a termination notice from the underwriters to terminate the underwriting agreement for the Asia Pacific rights issue, which Asia Pacific Resources agreed to accept. The commitments contained in the irrevocable undertaking by Allied Properties Investments shall automatically lapse and cease to have any effect or force, without prejudice to any liabilities already incurred and acceptances made in respect of the rights issue shares.
The Board believes that the lapse of the irrevocable undertaking due to the termination of the Asia Pacific rights issue will not cause any material adverse effect on the Group's financial position or business operations.
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