New City Development Group Limited (New City Dev) has amended the terms of its previously announced share subscription, raising the issue price and the total gross proceeds while confirming trading resumption on 6 May 2026.

Revised Subscription Terms • A supplemental agreement signed on 5 May 2026 lifts the subscription price from HK$0.373 to HK$0.385 per share. • The new price represents:  – a 9.41 % discount to the HK$0.425 closing price on 4 May 2026, the date the initial agreement was signed; and  – a 19.29 % discount to the five-day average closing price of HK$0.477 prior to that date.

Proceeds and Use of Funds • Gross proceeds increase to HK$10.64 million. • After deducting estimated expenses, net proceeds are expected to be about HK$10.35 million, equating to a net price of approximately HK$0.374 per share. • Management intends to deploy the funds for general working-capital purposes.

Board Assessment The board—comprising both executive and independent non-executive directors—states that the revised pricing is the result of arm’s-length negotiations and deems the terms fair and reasonable for shareholders.

Trading Status Shares were halted at 9:00 a.m. on 5 May 2026 pending this clarification. The company has applied for trading to resume at 9:00 a.m. on 6 May 2026.

Completion of the subscription remains conditional on the fulfillment of agreed precedent conditions, and there is no certainty the transaction will close as planned. Shareholders and prospective investors are advised to act cautiously when dealing in the company’s shares.