New Focus Auto Tech Holdings (HK:0360) has released an update.
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New Focus Auto Tech Holdings Limited has announced the lapse of their convertible bonds placing due to unmet conditions precedent, meaning the agreement is now void with no material adverse effects anticipated on the group’s operations or financial status. The company clarified that, had the placing proceeded, the conversion shares would have been issued under the general mandate from the 2024 annual general meeting, not the 2023 one.
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