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Mascotte Holdings Ltd Announces Placing Of New Shares


Monday, 11 Nov 2013 04:12am EST 

Mascotte Holdings Ltd announced that the Placing Agent and the Company entered into the Placing Agreement pursuant to which the Placing Agent has conditionally agreed to place a total of 1,250,000,000 new Shares on a fully underwritten basis, to not less than six independent Placees, at a price of HKD0.085 per Placing Share. The 1,250,000,000 Placing Shares under the Placing represent approximately 10.24% of the existing issued share capital of the Company of 12,207,300,620 Shares as at the date of this announcement and approximately 9.29% of the then issued share capital of 13,457,300,620 Shares as enlarged by the Placing. The Placing Price of HKD0.085 per Placing Share represents a discount of approximately 14.14% to the closing price of the Shares of HKD0.099 quoted on the Stock Exchange on November 8, 2013, being the date of the Placing Agreement and; a discount of approximately 15.84% to the average closing price of the Shares of approximately HKD0.101 quoted on the Stock Exchange for the last five consecutive trading days immediately prior to November 8, 2013. The gross proceeds from the Placing will be approximately HKD106.25 million and the net proceeds from the Placing (after deducting the placing commission for the Placing and other expense) will be approximately HKD99.7 million which will be used for general working capital of the Group. 

Company Quote

0.106
0.0 +0.00%
29 Aug 2014