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TLT Lottotainment Group Ltd Announces Placing Of New Shares Under General Mandate

Thursday, 13 Jun 2013 12:01am EDT 

TLT Lottotainment Group Ltd announced that on June 11, 2013, after trading hours, the Company entered into the Placing Agreement with the Placing Agent pursuant to which the Placing Agent has conditionally agreed with the Company to place 13,110,000 Placing Shares on a best efforts basis to not less than six Placees who and whose ultimate beneficial owners shall be Independent Third Parties at the Placing Price of HKD0.60 per Placing Share. The Placing Shares will be allotted and issued under the General Mandate granted to the Directors at the annual general meeting of the Company held on 13 May 2013. As at the date of this Announcement, no Shares have been allotted and issued pursuant to the General Mandate. The 13,110,000 Placing Shares to be allotted and issued will utilize approximately 99.85% of the General Mandate, representing approximately 6.66% of the existing issued share capital of the Company as at the date of this Announcement, and approximately 6.24% 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 HKD7.87 million and HKD7.60 million respectively, which will be used to finance the general working capital needs of the Group and payment of the New Loan Facility. 

Company Quote

0.0050 +1.85%
17 Apr 2014