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Hong Kong Resources Holdings Co Ltd Announces Placing Of New Shares Under General Mandate


Tuesday, 4 Jun 2013 09:46am EDT 

Hong Kong Resources Holdings Co Ltd announced that on June 4, 2013, the Company and the One China Securities Limited (Placing Agent) entered into the Placing Agreement whereby the Placing Agent agreed to place, on a best effort basis, a maximum of 196,908,603 Placing Shares to at least six independent Placees at a price of HKD0.18 per Placing Share. The 196,908,603 Placing Shares under the Placing represent approximately 7.14% of the existing issued ordinary share capital of the Company of 2,757,190,948 Shares; and approximately 6.67% of the Company’s issued ordinary share capital of 2,954,099,551 Shares as enlarged by the Placing. The aggregate nominal value of the Placing Shares under the Placing will be HKD1,969,086.03. The maximum net proceeds from the Placing will be approximately HKD34.91 million which is intended to be used for general working capital of the Group. The net proceeds raised per Share upon the completion of the Placing will be approximately HKD0.1773 per Placing Share. The placing commission is calculated as 1.5% of the amount equal to the aggregate Placing Price multiplied by the number of the Placing Shares actually placed by the Placing Agent under the Placing. Completion of the Placing will take place on the third Business Day upon the fulfillment of the conditions precedent set out in the Placing Agreement or such later date as the Company and the Placing Agent may agree in writing. 

Company Quote

0.186
0.0020 +1.09%
19 Dec 2014