Asiatic Group Holdings Ltd Announces Completion Of Issue And Allotment Of 50,000,000 New Ordinary Shares

Asiatic Group Holdings Ltd announced that with reference to the announcements on March 8, 2013 and March 19, 2013 relating to its entry into a subscription agreement with Lim Chye Huat at Bobby Lim Chye Huat (the Placee) pursuant to which the Company has agreed to allot and issue and the Placee has agreed to subscribe for 50,000,000 new ordinary shares in the capital of the Company at an issue price of SGD0.065 for each Placement Share for an aggregate cash consideration of SGD3,250,000 for the Placement Shares, The Board announced that it has, on March 22, 2013, completed the Placement with the issue and allotment of the Placement Shares at the issue price of SGD0.065 per Placement Share to the Placee. The Placement Shares are expected to be listed and quoted on the Catalist Board of the SGX-ST on or around March 26, 2013.