Brief: Timeless Software signs placing deal for up to 425 mln new shares

Timeless Resources Holdings

13/12/2016 14:25

Dec 13 (Reuters) - Timeless Software Ltd   8028.HK  
    * placing Of New Shares Under General Mandate 
    * company entered into placing agreement with placing agents 
    * intendes to use the proceeds for repayment of promissory 
note held by starmax and accrued interest of approximately 
hk$10.9 million 
    * Net proceeds from placing are estimated to be hk$39.5 
million 
    * placing agents to place, up to 425 million new placing 
shares to not less than six placees at a price of hk$0.095 per 
placing share 
 
Source text for Eikon:  ID:nHKS1YDyQQ  
Further company coverage:  8028.HK  
 
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