Jutal Offshore Oil Services Limited (SEHK:3303) announced a private placement of 150,000,000 warrants at a price of HKD 0.01 per warrant for gross proceeds of HKD 1,500,000 on a best efforts basis, on September 28, 2020. The transaction will include participation from not less than 6 investors. The warrants will entitle the holders to subscribe for an aggregate of 150,000,000 warrant shares at the exercise price of HKD 0.65 per warrant share. The warrants consist of 30,000,000 warrants A, 60,000,000 warrants B and 60,000,000 warrants C, the subscription rights for warrants A will be exercisable within 12 months from the date of the issue of warrants A, the subscription rights for warrants B will be exercisable within 42 months from the date of issue of the warrants B and the subscription rights for warrants C will be exercisable within 42 months from the date of issue of the warrants C. The transaction is subject to approval in the extraordinary general meeting of the company. The company will receive net proceeds of HKD 1,400,000 in the transaction.