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Eastland Equity Bhd Announces Updates On Private Placement

Thursday, 12 Sep 2013 05:21am EDT 

Eastland Equity Bhd announced that the Company proposes to implement a private placement of up to 22,333,400 new ordinary shares of RM0.50 each in EEB to independent third party investors to be identified at a later date. The Company is expected to raise gross proceeds amounting up to RM11.17 million from the Proposed Private Placement. The proceeds raised are expected to be utilised in the following manner: for Payment to contractor for works carried out in Phase 1 of Bandar Tasek Raja property development project in Pasir Mas, Kelantan, which comprises a bus and taxi terminal, market and commercial area; for Working capital for the EEB and its subsidiaries consisting of administrative expenses, overheads, salaries and other operating expenses and to defray expenses relating to the Proposed Private Placement. 

Company Quote

18 Dec 2014