Placements::PROPOSED PLACEMENT OF 688,888,886 NEW ORDINARY SHARES

Issuer & Securities

Issuer/ Manager
ADVANCED SYSTEMS AUTOMATION LIMITED
Securities
ADVANCED SYSTEMS AUTOMATION - SG2E65980228 - 5TY
Stapled Security
No

Announcement Details

Announcement Title
Placements
Date &Time of Broadcast
02-Dec-2014 22:12:08
Status
New
Announcement Sub Title
PROPOSED PLACEMENT OF 688,888,886 NEW ORDINARY SHARES
Announcement Reference
SG141202OTHR95LR
Submitted By (Co./ Ind. Name)
Dato' Michael Loh Soon Gnee
Designation
Executive Chairman & CEO
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Advanced Systems Automation Limited wishes to announce that the Company had on 2 December 2014 entered into placement agreements respectively with Dato Loh Choon Khiang, Mr Loh Choon Piew, Ms Yeo Lay Muay and Mr Low Jinn Yenn. Pursuant to the Placement Agreements, the Company has agreed to allot and issue an aggregate of 688,888,886 new ordinary shares in the capital of the Company at a placement price of S$0.0045 for each Placement Share, for an aggregate consideration of S$3,100,000, and on the terms and conditions of the Placement Agreements. The Placement is non-underwritten and there is no placement agent appointed for the purpose of this Placement.

Additional Details

Capital Amount-Old
SGD 127,875,000
Capital Amount-New
SGD 130,975,000
No. of Existing Outstanding Shares
1,948,465,457
New Shares Issued
688,888,886
Offer Price
SGD 0.0045

Attachments