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Mascotte Holdings Ltd Announces Placing Of New Shares Under General Mandate


Friday, 22 Feb 2013 09:00am EST 

Mascotte Holdings Ltd announced that on February 22, 2013, after trading hours, the Company entered into the Placing Agreement with the Placing Agent pursuant to which the Placing Agent has conditionally agreed with the Company to place 306,910,020 Placing Shares on a fully underwritten basis to the Placees who are Independent Third Parties at the Placing Price of HKD0.10 per Placing Share. The Placing Shares will be allotted and issued under the General Mandate granted to the Directors at the special general meeting of the Company held on February 21, 2013. As at the date of this Announcement, no Shares have been allotted and issued pursuant to the General Mandate. The 306,910,020 Placing Shares to be allotted and issued will fully utilize the General Mandate, representing approximately 20% of the existing issued share capital of the Company as at the date of this Announcement, and approximately 16.67% of the enlarged issued share capital of the Company immediately following the Placing. The gross proceeds and net proceeds from the Placing will be approximately HKD30.69 million and HKD29.44 million, respectively, which will be used to repay part of the outstanding loan under the Loan Facility. 

Company Quote

0.125
0.0030 +2.46%
2:53am EST