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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Thomson Reuters Stock Report

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CMMB Vision Holdings Ltd Announces Placing Of Existing Shares And Subscription For New Shares

Thursday, 30 May 2013 06:59pm EDT 

CMMB Vision Holdings Ltd announced that on May 30, 2013 the Subscriber, the Company and the Placing Agent entered into the Placing Agreement pursuant to which the Subscriber has agreed to place, and the Placing Agent has agreed to procure not less than six Placees, on a best effort basis, for the purchase of up to 89,964,440 Shares at the Placing Price of HKD0.62 per Placing Share. The maximum number of the Placing Shares represents about 14.06% of the Company‚Äôs existing issued share capital of 639,729,788 Shares and about 12.33% of the issued share capital of the Company of 729,694,228 Shares, as enlarged by the allotment and issue of the Subscription Shares. The maximum gross proceeds and net proceeds (after deducting the placing agent commission and other expenses incurred in the Placing and the Subscription) from the Subscription are expected to be HKD55.78 million and approximately HKD53.9 million, respectively. The Company intends to use the net proceeds from the Subscription for general working capital purposes of the Group. The net proceeds raised per Share upon completion of the Placing and the Subscription will be approximately HKD0.599 per Share. The Subscription must be completed within 7 days from the date of the Placing Agreement, that is, on or before June 06, 2013. 

Company Quote

3 Mar 2015