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China Print Power Group Ltd Announces Placing Of New Shares Up To 34,840,000


Thursday, 7 Feb 2013 05:45pm EST 

China Print Power Group Ltd announced that on February 07, 2013 (after trading hours), the Company and the Placing Agent entered into the Placing Agreement pursuant to which the Placing Agent agreed to place, on a best effort basis, to not less than six independent Placees for up to 34,840,000 new Shares at a price of HKD0.98 per Placing Share. The maximum number of 34,840,000 Placing Shares represent: approximately 19.99% of the entire issued share capital of the Company of 174,209,373 Shares as at the date of this announcement; approximately 16.67% of the Company’s entire issued share capital as enlarged by the Placing Shares; and approximately 19.99% of the Company’s issued share capital as at the date of the mandate obtained on 25 September 2012. The maximum net proceeds from the Placing will be approximately HKD32.69 million (assuming the Placing Shares are fully placed and after all relevant expenses) which are intended to be used for potential acquisition activities as identified by the Group from time to time and as the general working capital of the Group. 

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