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Sunlight Group Holding Ltd Proposes Placement Of Up To 130,000,000 New Ordinary Shares


Wednesday, 3 Apr 2013 08:31am EDT 

Sunlight Group Holding Ltd announced that the Company has on April 3, 2013 entered into a placement agreement with UOB Kay Hian Pte Ltd and Canaccord Genuity Singapore Pte. Ltd (the Placement Agents) (the Placement Agreement) for the placement of up to 130,000,000 new ordinary shares in the capital of the Company (the “Placement Shares”) at an issue price of SGD0.038 for each Placement Share (the Placement Price) to raise gross proceeds of up to SGD4,940,000 (the “Placement”) on a best efforts basis. Based on the Placement Price, the estimated amount of proceeds from the Placement (after deducting estimated expenses in connection with the Placement of approximately SGD216,750, assuming that all the Placement Shares are issued) (Net Proceeds) is expected to be approximately SGD4,723,250. The Company intends to use the Net Proceeds from the Placement to fund possible acquisitions and/or investments when opportunities arise and for general working capital purposes set out in the table below: To fund possible acquisitions and/or investments when opportunities arise - SGD3,780,000; For general working capital purposes - SGD943,250. Pending the deployment of the Net Proceeds for the abovementioned purposes, the Net Proceeds may be placed as deposits with financial institutions or invested in short-term money markets or debt instruments or for any other purposes on a short-term basis as the Directors may deem fit in the interests of the Company. 

Company Quote

0.029
-0.0020 -6.45%
23 Sep 2014