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CIL Holdings Ltd announces placing of new shares under general mandate and placing of new shares under specific mandate


Monday, 13 Jan 2014 08:52am EST 

CIL Holdings Ltd:Says on Jan. 13, the company and the Placing Agent entered into the GM Placing Agreement.Says pursuant to which IT has conditionally agreed to place through the Placing Agent, on a best endeavour basis, up to 313,820,000 GM Placing Shares, at a price of HK$0.11 per GM placing share.Says assuming all the GM Placing Shares to be placed under the GM Placing Agreement have been placed, the maximum gross proceeds from the GM Placing will be about HK$34.5 mln and the maximum net proceeds will be about HK$33.2 mln.Says it is expected that the entire net proceeds from the GM Placing will be utilised as general working capital of the Group.Says on Jan. 13, the company and the Placing Agent also entered into the SM Placing Agreement.Says pursuant to which it has conditionally agreed to place through the Placing Agent, on a best endeavour basis, up to 627,660,000 SM Placing Shares, at a price of HK$0.11 per SM placing share.Says assuming all the SM Placing Shares have been placed under the SM placing agreement, the maximum gross proceeds from the SM Placing will be about HK$69.0 mln and the maximum net proceeds will be about HK$66.5 mln.Says it is expected that the entire net proceeds from the SM Placing will be used for financing any investment opportunity as the Company may identify in the future. 

Company Quote

0.057
0.0010 +1.79%
19 Dec 2014