Placing Agreement
RNS Number : 7086S
MiLOC Group Limited
10 July 2020
 

10 July 2020

 

MiLOC GROUP LIMITED

("MiLOC" or "the Company")

 

PLACING

 

The Company is pleased to announce that it has entered into a placing agreement to raise a total of USD1,405,381.60 (approximately GBP1,106,261.47 or HKD10,848,000) through the issue of 3,881,619 new Ordinary Shares of US$0.001 each in the Company ("Ordinary Shares") at a price of 28.5p per share to a corporate shareholder, BWB International Limited, that is unrelated to the Company ("Placing").

 

The placing proceeds will be used for general working capital purposes.

 

A further announcement will be made upon the completion of the Placing.

 

The Company announces that, following the issue of Ordinary Shares referred to above, in accordance with the Financial Conduct Authority's Disclosure and Transparency Rules (the "Disclosure and Transparency Rules"), the total number of Ordinary Shares in issue will be 88,065,271 with each share carrying the right to one vote.

 

MiLOC does not hold any shares in Treasury.

 

The above figure of 88,065,271 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

 

The directors of the Company accept responsibility for the contents of this announcement.

 

For further information, please contact:-

 

MiLOC

ONG Ban Poh Michael - Chief Executive Officer

 Ronnie CHOI - Chief Financial Officer

 

 

 

 

Tel: +852 2110 4221

 

AQSE Growth Market Corporate Adviser

PETERHOUSE CAPITAL LIMITED

Guy Miller

Mark Anwyl

Tel: +44 (0) 20 7469 0930

 


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