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Yueshou Environmental Holdings Ltd Announces Placing Of New Shares Under Refreshed General Mandate


Thursday, 15 Aug 2013 10:35am EDT 

Yueshou Environmental Holdings Ltd announced that on August 15, 2013, the Company entered into the Placing Agreement with the Placing Agent, pursuant to which the Placing Agent conditionally agreed to place up to 169,385,540 Placing Shares to not less than six Placees at the Placing Price of HKD0.20 on a best effort basis. The Placing Shares represent approximately 18.20% of the existing issued ordinary share capital of the Company as at the date of this announcement and approximately 15.40% of the issued ordinary share capital of the Company as enlarged by the Placing Shares. The Placing Shares will be issued under the Refreshed General Mandate and will rank equally among themselves and with the existing Shares in issue on the completion date of the Placing. The gross proceeds to be raised from the Placing will be about HKD33.9 million. Based on estimated expenses of about HKD1 million for the Placing, the net proceeds to be raised from the Placing will be approximately HKD32.9 million. On this basis, the net price per Placing Share is approximately HKD0.194. 

Company Quote

0.22
-0.0040 -1.79%
3:09am EDT