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Tonic Industries Holdings Ltd Announces Proposed Placing Of Placement Shares Under Specific Mandate


Tuesday, 8 Oct 2013 08:26pm EDT 

Tonic Industries Holdings Ltd referred to the announcement of the Company dated September 23, 2013 in relation to, among others, the Acquisition. The Company has entered into the Placing Agreement with Eureka, CMPD and the Placing Agents on October 9, 2013. Pursuant to the Placing Agreement, the Placing Agents have severally and not jointly agreed, subject to the terms and conditions of the Placing Agreement, to act as agents for the Company to use their best efforts to procure purchasers to purchase the Placement Shares at the Issue Price. The minimum public float of 25% will be maintained upon Closing. The Placement Shares will be allotted and issued pursuant to the Specific Mandate to be sought from the Independent Shareholders at the EGM. The net proceeds from the Placing are estimated to be approximately HKD1.946 billion (assuming an Issue Price of HKD2.190 per Share, which is the mid-point of the Issue Price range set out in this announcement). 

Company Quote

1.08
0.01 +0.93%
24 Oct 2014