BRIGHT FUTURE (01351) has announced a board proposal to consolidate its shares on a 5-for-1 basis, merging every five existing issued and unissued shares with a par value of HK$0.10 each into one consolidated share with a par value of HK$0.50. This move is designed to facilitate the rights issue and support the group's future expansion and growth, while also providing greater flexibility for the company's fundraising efforts.

To that end, the board has proposed increasing the company's authorized share capital from HK$200 million (divided into 2 billion shares) to HK$600 million (divided into 6 billion shares), or 1.2 billion consolidated shares once the share consolidation takes effect. The increase in authorized share capital is conditional upon shareholders passing an ordinary resolution at a special general meeting.

Following the effectiveness of the share consolidation and the capital increase, the board suggests launching a rights issue on the basis of three rights shares for every one consolidated share held on the record date, at a subscription price of HK$0.60 per rights share. The issuance of up to 360 million rights shares aims to raise approximately HK$216 million before expenses, assuming no change in the total number of issued shares prior to or on the record date other than due to the share consolidation. If the rights shares are fully subscribed, the maximum estimated net proceeds after deducting all necessary expenses would be roughly HK$207 million, based on the same assumption of unchanged issued share numbers.

On September 15, 2026, after the trading session, the company entered into a placing agreement with joint placing agents. Under best-effort terms, the agents will place any unsubscribed rights shares and unsold rights shares of ineligible shareholders to independent placees after the final acceptance deadline, with the placing price set no lower than the subscription price.