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ABC Communications (Holdings) Ltd Announces Placing Of New Shares Under General Mandate


Tuesday, 15 Oct 2013 09:43am EDT 

ABC Communications (Holdings) Ltd announced that on October 15, 2013 (after trading hours), the Company and the Orient Securities Limited (Placing Agent) entered into the Placing Agreement, pursuant to which the Company has conditionally agreed to place, through the Placing Agent a maximum of 275,891,440 Placing Shares to not less than six Placees at a price of HKD0.15 per Placing Share. The maximum of 275,891,440 Placing Shares represent approximately 20% of the issued share capital of the Company of 1,379,457,200 Shares as at the date of this announcement; and approximately 16.67% of the issued share capital of the Company as enlarged by the issue of a maximum of 275,891,440 Placing Shares. On the assumption that all Placing Shares are fully placed, the gross proceeds and the net proceeds arising from the Placing will be HKD41.38 million and approximately HKD39.53 million, respectively, which is intended to be used as general working capital and for future potential investments of the Company. 

Company Quote

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23 Oct 2014