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GSH Corporation Ltd Announces Renounceable Non-underwritten Rights Issue Of Up To 4,942,590,125 New Ordinary Shares

Tuesday, 5 Mar 2013 06:52pm EST 

GSH Corporation Ltd announced that it is proposing a renounceable non-underwritten rights issue of up to 4,942,590,125 new ordinary shares in the capital of the Company (the Rights Shares) at an issue price of SGD0.05 for each Rights Share (the Issue Price) on the basis of one Rights Share for every one ordinary share in the capital of the Company (Shares) held by the shareholders of the Company (Shareholders) as at a books closure date to be determined (the Books Closure Date). The number of Rights Shares to be issued by the Company in connection with the Rights Issue is premised on the assumption that the Company completes the allotment and issue of an aggregate of 395,179,985 new Shares (Placement Shares) to Skyven Growth Opportunities Fund Pte. Ltd. and Golden Super Holdings Limited (collectively the Placees) pursuant to the subscription agreements dated February 20, 2013, entered into by the Company with each Placee (the Placements). The Company expects to receive net proceeds from the Rights Issue of approximately SGD246.8 million, which the Company intends to use entirely to support the expansion of the business activities of the Group to include the Property Business and the Construction Business including but not limited to the Joint Project should the same proceed. 

Company Quote

0.0010 +1.27%
28 Nov 2014