Willie International (HKG:0273) announced that it will by itself fully subscribe for 421 million rights shares of Freeman Financial (HKG:0279) for HK$42.07 million if the Freeman subscription is completed on or before the Freeman record date or 43.59 million Freeman rights shares for HK$4.359 million if the Freeman subscription is not completed on or before the Freeman record date. The required funding will be satisfied by Willie's internal resources.

None of Willie's entitlement of Freeman rights shares will be transferred to Henry Chuang Yue-heng, and/or Kitchell Osman Bin under the two back-to-back irrevocable undertakings.

Willie said that participation in the Freeman rights issue will allow it to maintain its pro-rata shareholding in Freeman and to provide its support to Freeman when developing strategic alliance.