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Paul Y Engineering Group Ltd Announces Placing Of New Shares And Convertible Bonds; Completion Of Acquisition


Tuesday, 5 Feb 2013 06:30pm EST 

Paul Y Engineering Group Ltd announced that completion of the Placing took place on February 05, 2013, raising gross funds of HKD3,200 million. An aggregate of 2,938,236,000 Placing Shares at the Placing Price of HKD0.68 per Share and an aggregate of HKD1,202 million worth of Convertible Bonds at face value have been successfully placed by the Placing Agent to not less than six Placees. The issued share capital of PYE, as enlarged by the Placing Shares, is 3,545,190,322 Shares. Upon full conversion of the Placing Convertible Bonds, based on the conversion price of HKD0.68, the issued share capital would be 5,312,837,380 Shares. 705,882,000 Shares, representing approximately. The Board is also announced that completion of the Acquisition of Falloncroft pursuant to the terms of the Falloncroft SPA took place on February 05, 2013. Falloncroft holds the entire issued share capital of Uni-Dragon, which is the legal and beneficial owner of all the issued shares of Manlink and Challenge Shore. On the basis that completion of the Acquisition has successfully been funded from the Placing alone, PYE has elected not to proceed with the Contingent Placing. Accordingly, PYE will not be issuing any Contingent Placing Convertible Bonds and PYE will not call on funds prospectively raised by the Contingent Placing Agents. 

Company Quote

5.5
-0.08 -1.43%
20 Aug 2014