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IMAGI INT'L (00585) expects FY19 loss increasing
21 Jan 2020
(Infocast News) Imagi International (00585) expects to record an increase in consolidated net loss after tax by not less 35% for the year ended 31 December 2019.

The increase in loss is mainly attributable to (i) increase in legal and professional fee for an on-going corporate exercise in relation to a very substantial acquisition and reverse takeover involving a new listing application carried out; (ii) interest expenses of HK$14 million arising from the HK$1 billion 10% 3-years Guaranteed Notes issued by the group on 13 November 2019; and (iii) net effect of the aggregate net realised loss from the sale of listed equity of HK$80 million while losses from changes in fair value of financial assets classified as held-for-trading of HK$28 million.

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