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China Environmental Resources Group Ltd Announces Placing Of New Shares

Monday, 10 Jun 2013 06:59am EDT 

China Environmental Resources Group Ltd announced that it has entered into the Placing Agreement with the Placing Agent pursuant to which the Placing Agent has conditionally agreed with the Company to place 30,453,958 Placing Shares on a fully underwritten basis to the Placees who are Independent Third Parties at the Placing Price of HKD0.20 per Placing Share. The Placing Shares will be allotted and issued under the General Mandate granted to the Directors at the extraordinary general meeting of the Company held on June 6, 2013. The 30,453,958 Placing Shares to be allotted and issued will fully utilize the General Mandate, representing 20% of the existing issued share capital of the Company as at the date of this Announcement and approximately 16.67% of the enlarged issued share capital of the Company immediately following the Placing. The gross proceeds and net proceeds from the Placing will be approximately HKD6.09 million and HKD5.74 million, respectively, which will be used for general working capital of the Group. 

Company Quote

0.016 +9.25%
19 Dec 2014