Media Asia Group Holdings Limited announced that it has entered into the subscription agreement with THL G Limited to issue an aggregate of 83,333,333 shares at a price of HKD 1.20 per share for gross proceeds of HKD 99,999,999.6 on June 4, 2021. After the closing of tranche A, THL G Limited will own 1.62% stake in the company and after the closing of Tranche B, THL G Limited will own 2.96% stake in the company. The shares will be issued in two tranches. The tranche A will consist of 42,721,136 shares and closing will take place on the tenth Business Day after the fulfilment and tranche B will consist of 40,612,197 shares and closing will take place on the tenth Business Day after the fulfilment. The transaction is subject for a lock-up period of three months from the Tranche A Closing date and for a period of three months from the Tranche B Closing date. The Tranche A subscription shares will be allotted and issued under the General Mandate. Accordingly, the allotment and issue of the tranche A subscription shares will not be subject to Shareholders’ approval.