Gronghui April 30 丨GOLDWAY EDU(08160.HK) announcementcryptocasinonodepositbonus2022, the Board of Directors recommended the implementation of share consolidation on the basis that every five (5) issued and unissued shares with a par value of HK$0.0001 each in the company's share capital will be consolidated into one (1) consolidated share with a par value of HK$0.0005 each. As of the announcement date, there were 181cryptocasinonodepositbonus2022, 589,926 issued shares that were fully paid or credited as fully paid. The share consolidation is subject to, among others, approval by shareholders at the extraordinary general meeting.

On the basis of three (3) rights shares for every one (1) consolidated share held on the record date, a maximum of 108,953,955 rights shares (assuming there is no change in the number of issued shares on or before the record date) were issued to eligible shareholders through rights issue at a subscription price of HK$0.145 per rights share to raise total proceeds of approximately HK$15.8 million (before costs and expenses). The rights issue will not be underwritten and will not be submitted to excluded shareholders, if any.