Weimob Inc. (SEHK:2013) announced that it has entered into a subscription agreement with returning investors Yomi.sun Holding Limited, Alter You Holding Limited and Weimob Teamwork (Ptc) Limited for private placement of 255,000,000 shares at an issue price of HKD 4.60 per share for gross proceeds of HKD 1,173,000,000 on July 26, 2019. The company will receive net proceeds of HKD 1,157,700,000 and incur expenses of HKD 15,300,000 in the transaction. The issue of the shares is not subject to the approval of the shareholders and the shares will be issued under the general mandate granted by the shareholders to the directors pursuant to the ordinary resolution passed at the annual general meeting of the company held on 20 June 2019. The investors will subscribe for 11.25% of the issued share capital of the company as enlarged by the transaction. The securities issued in the transaction have a hold period 90 days from the closing of the transaction. The transaction is expected to close within on the second business day after certain conditions to be satisfied provided it shall have been so satisfied provided that it shall take place on a date no later than a date falling 14 days after the date of the subscription date.