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

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CMMB Vision Holdings Ltd Placing Of New Shares Under General Mandate

Tuesday, 30 Jul 2013 10:14am EDT 

CMMB Vision Holdings Ltd announced that on July 30, 2013, the Company has entered into the Subscription Agreements with the Subscribers for the subscription of an aggregate 20,000,000 new Shares for an aggregate consideration of HKD9,300,000 at the Subscription Price of HKD0.465 per Subscription Share. The Subscription Shares of 20,000,000 new Shares represent approximately 3.13% of the existing issued share capital of the Company and approximately 3.03% of its enlarged share capital. The Subscription Shares will be issued under the General Mandate and will rank equally with the existing Shares. Based on an estimated expenses of approximately HKD100,000 for the Subscription, the Company will be able to raise HKD9.3 million gross proceeds and approximately HKD9.2 million net proceeds from the Subscription. On this basis, the net issue price per Subscription Share is approximately HKD0.460. The Subscription Price is determined with reference to the prevailing market price of the Shares and was negotiated on an arm’s length basis between the Company and Subscribers. The Company will use the estimated net proceeds of the Subscription as general working capital. 

Company Quote

-0.043 -17.77%
3:58am EDT