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Megalogic Technology Holdings Ltd Announces Placing Of New Shares Under General Mandate


Thursday, 15 Aug 2013 08:53am EDT 

Megalogic Technology Holdings Ltd announced that the Company and China Rise Securities Company Limited (the Placing Agent) entered into the Placing Agreement pursuant to which the Placing Agent agreed to place, on effort basis, to not less than six independent Places for up to 40,000,000 new Shares at a price of HKD0.25 per Placing Share. The Placing is conditional upon the Listing Division of the Stock Exchange granting the listing of and permission to deal in the Placing Shares. If such condition is not fulfilled, the Placing will not proceed. The maximum number of 40,000,000 Placing Shares represents approximately 20% of the entire issued share capital of the Company of 200,000,000 Shares as at the date of this announcement and approximately 16.7% of the Company‚Äôs entire issued share capital as enlarged by the Placing Shares. The maximum net proceeds from the Placing will be approximately HKD10 million (assuming the Placing Shares are fully placed and after all relevant expenses) which is intended to be used by the Company for investments opportunities should appropriate opportunities arise and where the Directors consider it in the interest of the Company to do so and/or for general working capital of the Group. 

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