MiLOC Group Limited - PLACING and NOTICE OF ANNUAL GENERAL MEETING
11/10/2022 08:00
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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
(http://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 Tel: +852 2110 4221
Lilian Lo - Acting Chief Financial Officer
AQSE Growth Market Corporate Adviser Tel: +44 (0) 20 7469 0930
PETERHOUSE CAPITAL LIMITED
Guy Miller
Mark Anwyl
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