Brief: Media Asia Group Enters Acquisition Term Sheet For Potential Acquisition With VSM Holdings

Lai Sun Development

06/11/2020 15:08

Nov 6 (Reuters) - Media Asia Group Holdings Ltd  8075.HK :
    * CO & VSM HOLDINGS ENTERED ACQUISITION TERM SHEET FOR
POTENTIAL
ACQUISITION
    * POTENTIAL ACQUISITION BY CO OF ENTIRE STAKE OF VSM
HOLDINGS FOR
ANTICIPATED CONSIDERATION OF HK$280 MILLION
    * TO ISSUE CAPITALISATION SHARES TO ESUN AT HK$0.16 PER
CONSOL
SHARE AGAINST LOAN CAPITALISATION OF HK$430 MILLION
    * TO RAISE UP TO ABOUT HK$154.7 MILLION VIA OPEN OFFER OF
967
MILLION SHARES AT HK$0.16 PER SHARE
    * PROPOSE TO IMPLEMENT SHARE CONSOLIDATION OF EVERY 10
ISSUED &
UNISSUED EXISTING SHARES TO BE CONSOLIDATED INTO 1 CONSOLIDATED
SHARE
    * APPLICATION MADE FOR RESUMPTION OF TRADING IN SHARES OF
ESUN AND
MAGHL FROM 9 AM, NOV 9
    * UNDER LOAN CAPITALISATION, ESUN & MAGHL ENTERED PLACING
AGREEMENT TO PLACE UP TO AGGREGATE 937.5 MILLION CAPITALISATION
SHARES

Source text https://bit.ly/3nbBqvh
Further company coverage:  8075.HK 

 ((Reuters.Briefs@thomsonreuters.com;))