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Solartech International Holdings Ltd Announces Placing Of New Shares Under General Mandate


Thursday, 29 Nov 2012 08:43am EST 

Solartech International Holdings Ltd announced that on November 29, 2012 (after trading hours), the Placing Agent and the Company entered into the Placing Agreement pursuant to which the Placing Agent agreed to place, on a best effort basis, a maximum of 17,650,000 Placing Shares to currently expect not less than six Placees who are Independent Third Parties. Assuming that there will be no change in the issued share capital of the Company between the date of this announcement and the completion of the Placing, the 17,650,000 Placing Shares under the Placing represent (i) approximately 12.7% of the existing issued share capital of the Company of 138,595,650 Shares as at the date of this announcement; and (ii) approximately 11.3% of the then issued share capital of the Company as enlarged by the allotment and issue of the Placing Shares. The aggregate nominal value of the Placing Shares under the Placing will be HKD176,500. The gross proceeds from the Placing will be approximately HKD6.62 million. The net proceeds from the Placing will amount to approximately HKD6.29 million which is intended to be used for general working capital of the Group. The net price raised per Placing Share will be approximately HKD0.356 per Share. 

Company Quote

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