SLAC Precision to seek shareholder approval for private placement

Suzhou SLAC Precision Equipment (SZSE:300382) announced it will seek shareholder approval at its upcoming 2024 Annual General Meeting to authorize its board to conduct a private placement of shares. The proposed placement, if approved, would raise up to CNY 300 million and will not exceed 20% of the company’s latest year-end net assets. The company's controlling shareholder, Keleisi, has submitted a proposal to add this matter as a temporary agenda item. The authorization would be valid from the date of the 2024 AGM until the date of the 2025 AGM. Proceeds are earmarked for general operating needs. The placement would involve issuing shares to no more than 35 specific investors. The issuance price will be no lower than 80% of the average trading price of the 20 trading days preceding the issuance date. Shares issued will be subject to a 6-month lock-up period, or 18 months for certain investors.