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CVM Minerals Ltd Announces Placing Of New Shares Under General Mandate


Tuesday, 30 Jul 2013 10:32am EDT 

CVM Minerals Ltd announced that on July 30, 2013, the Company entered into the Placing Agreement with Upbest Securities Company Limited (the Placing Agent) pursuant to which the Placing Agent has agreed to place, on a best effort basis, to independent Placees for up to 268,030,000 new Shares at a price of HKD0.168 per Placing Share, for and on behalf of the Company. The Placing is conditional upon the Listing Committee of the Stock Exchange granting the listing of and permission to deal in the Placing Shares. If such condition is not fulfilled, the Placing will not proceed. The maximum number of 268,030,000 Placing Shares represents approximately 20% of the entire issued share capital of the Company of 1,340,154,265 Shares as at the date of this announcement and approximately 16.67% of the Company‚Äôs entire issued share capital as enlarged by the Placing. The net proceeds from the Placing of approximately HKD43.73 million (assuming the Placing Shares are fully placed and after all relevant expenses) will be used for general working capital of the Group. 

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17 Apr 2014