Raya Group Ltd Announces Closing Of Share Purchase Plan

Raya Group Ltd announced the closing of it Share Purchase Plan (SPP) earlier this week. Following the closure of the SPP, valid applications were received from shareholders for a total of 34,800,000 shares to raise a total amount of $348,000. A total of 28,600,000 shares were allotted on June 05, 2013. The balance of 6,200,000 shares will be allotted on or about June 21, 2013, following the Company’s Extra-Ordinary General Meeting. Raya’s SPP has received institutional backing by Melbourne Capital Limited (Melbourne Capital). Under a Mandate Agreement signed between Raya and Melbourne Capital, Melbourne Capital have agreed to place, on a endeavors basis, up to $1.5 million of any shortfall amount under Raya’s current SPP. This placement will be completed shortly, with the shares allotted following the Company’s Extra-Ordinary General Meeting.