MiLOC Group Limited - PLACING TO RAISE APPROXIMATELY £165,950
21/07/2017 12:43
RNS Number : 7797L
MiLOC Group Limited
21 July 2017
21 July 2017
MiLOC GROUP LIMITED
("MiLOC" or the "Company")
PLACING TO RAISE APPROXIMATELY 165,950
MiLOC Group Limited is pleased to announce that it has entered into placing agreements to raise HKD$1,700,000 (or approximately 165,950) gross of expenses from four individuals that are unrelated to the Company, through the issue of 582,280 new ordinary shares of US$0.001 each in the share capital of the Company, at a price of 28.5 pence per share (the "Placing Shares").
The placing proceeds will be used for general working capital purposes.
In addition to the placing, the Directors of the Company have resolved to issue 10,460 ordinary shares in lieu of fees for services to the Company.
The Placing Shareswill, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company. Following completion of the placing and the placing that was previously announced on 4 July 2017, there will be a total of 72,724,261 ordinary shares of the Company in issue.
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 |