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China 3D Digital Entertainment Ltd Announces Proposed Placing Of New Shares Under Specific Mandate

Friday, 22 Feb 2013 08:07am EST 

China 3D Digital Entertainment Ltd announced that on February 22, 2013 (after trading hours), the Company entered into the Placing Agreement with the Placing Agent, pursuant to which the Company conditionally agreed to place, through the Placing Agent, a maximum number of 1,000,000,000 Placing Shares in a maximum of five tranches (in which each tranche shall not be less than 200,000,000 Placing Shares, save for the last tranche) on a best effort basis, to not fewer than six independent Placees at a price of HKD0.1 per Placing Share. A maximum of 1,000,000,000 Placing Shares under the Placing represent approximately 301.09% of the existing issued share capital of the Company of 332,123,813 Shares as at the date of this announcement and approximately 75.07% of the then issued share capital of 1,332,123,813 Shares as enlarged by the Placing. The aggregate nominal value of the Placing Shares under the Placing will be HKD5,000,000. On the assumption that all the Placing Shares are successfully placed, the gross proceeds and the net proceeds from the Placing will be HKD100 million and approximately HKD98 million respectively which are intended to be used as at approximately HKD50 million for production of movies; and as to approximately HKD48 million for possible investment plan on cinemas and/or operation rights of cinemas in the PRC. 

Company Quote

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11 Jul 2014