MiLOC Group Limited - Director/PDMR Shareholding
29/08/2017 15:05
RNS Number : 2134P
MiLOC Group Limited
29 August 2017
29 August 2017
MiLOC GROUP LIMITED
("MiLOC" or the "Company")
Director/PDMR Shareholding
On 1 August 2017, MiLOC received notification from Mr. Ivor Colin Shrago, a non-executive Director of the Company, that he had agreed, subject to board approval, to sell 66,900 ordinary shares of US$0.001 each in the Company ("Ordinary Shares") at a price of 28.473 pence per share to a non-related third party for a consideration of 19,048. The transaction is expected to be completed on 1 September 2017.
On 25 August 2017, Mr. Shrago entered into a placing agreement with the Company pursuant to which he agreed to invest HKD250,000 (approximately 24,474) in the Company, through the acquisition of 85,873 new Ordinary Shares (the "Placing Shares"), at a price of 28.5 pence per share (the "Placing").
The proceeds of the Placing will be used by the Company for general working capital purposes. The Placing Shareswill, when issued, rank pari passu in all respects with the existing ordinary shares of the Company.
On completion of these transactions, Mr. Shrago will be interested in 375,047 Ordinary Shares, representing 0.52% of the Company's issued share capital. The Placing is expected to complete on 15 October 2017.
On completion of the Placing on or around 15 October 2017, there will be 72,810,134 ordinary shares in issue. The above figure of 72,810,134 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 |
| NEX Exchange Corporate Adviser PETERHOUSE CORPORATE FINANCE LIMITED Guy Miller Mark Anwyl | Tel: +44 (0) 20 7469 0930 |