MiLOC Group Limited - PLACING and NOTICE OF ANNUAL GENERAL MEETING
RNS Number : 4635C
MiLOC Group Limited
11 October 2022
 

11 October 2022

 

 

MiLOC GROUP LIMITED

("MiLOC" or "the Company")

 

PLACING and NOTICE OF ANNUAL GENERAL MEETING

 

 

PLACING

 

MiLOC Group Limited (AQSE: ML.P), the AQSE Growth Market quoted Company, is pleased to announce that it has raised a total of HKD350,000 (equivalent to approximately GBP39,585) through the issue of 197,925 new Ordinary Shares of US$0.001 each in the Company ("Ordinary Shares") at a price of 20p per share to an individual shareholder. Application will be made for the Ordinary Shares to be admitted to trading on the AQSE Growth Market and it is expected that admission will occur on or before 21 October 2022.

 

The Ordinary Shares, when issued, will be credited as fully paid and rank pari passu in all respects with the existing Ordinary Shares of the Company. The placing proceeds will be used for general working capital purposes.

 

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 86,336,418 with each share carrying the right to one vote.

 

MiLOC does not hold any shares in Treasury.

 

The above figure of 86,336,418 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.

 

 

ANNUAL GENERAL MEETING

 

The Company is also pleased to announce that the Annual General Meeting (the "AGM") of the Company will be held at 2307, 23/F Peninsula Tower, No.538 Castle Peak Road, Cheung Sha Wan, Hong Kong on 2 November 2022 at 4:00 p.m. (Hong Kong time).

 

Copies of the Company's Notice of the AGM have been distributed to shareholders.  Electronic copies of the Notice of AGM as well as the Company's Annual Report and Financial Statements for the year ended 31 December 2021 are also available from the Company's website www.miloc.com.

 

The Company draws your attention to certain of the Resolutions being proposed at the AGM, together with the Non-Executive Chairman's letter to shareholders. In particular, the Company is proposing to acquire 100% of CRUSHMETRIC Limited ("CRUSHMETRIC") through the proposed issuance of 153,486,965 consideration shares. CRUSHMETRIC'S co-founder, Noah Deledda will join the Company as non-main board Chief Innovation Officer. ONG Ban Poh Michael is the current Chief Executive Officer of the Company and also currently owns 43.6% of CRUSHMETRIC. Mr. Ivor Colin Shrago, as an independent director, has exercised reasonable care, skill and diligence, and reasonably believes that the related party transaction is fair and reasonable as far as the shareholders of the Company are concerned.

 

Further information on CRUSHMETRIC is available in the circular to Shareholders, together with the AGM Notice.  

 

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

   Lilian Lo - Acting 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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