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China Solar Energy Holdings Ltd Announces Placing Of New Shares Under General Mandate

Friday, 26 Jul 2013 08:23am EDT 

China Solar Energy Holdings Ltd announced that it has entered into the Placing Agreement with the Placing Agent pursuant to which the Placing Agent has conditionally agreed with the Company to place up to 283,000,000 Placing Shares on a best effort basis to the Placees who are Independent Third Parties at the Placing Price of HKD0.168 per Placing Share. The Placing Shares will be allotted and issued under the General Mandate granted to the Directors at the annual general meeting of the Company held on September 17, 2012. As at the date of this Announcement, no Shares have been allotted and issued pursuant to the General Mandate. Assuming all the Placing Shares are allotted and issued, the 283,000,000 Placing Shares represents approximately 19.98% of the existing issued share capital of the Company as at the date of this Announcement and approximately 16.66% of the enlarged issued share capital of the Company immediately following the Completion. The gross proceeds and net proceeds from the Placing will be approximately HKD47.5 million and HKD46.8 million, respectively, which will be used for general working capital of the Group and for any potential investment opportunities in the future. 

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