Post by oldman on Apr 1, 2014 4:35:01 GMT 7
Am impressed that they managed to find investors willing to put more money into the company. Share price is currently at 15cts.
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LionGold Corp Ltd (the “Company”) wishes to announce that it has entered into a
subscription agreement dated 31 March 2014 (the “Share Subscription Agreement”) with
Mr. Teo Kek Yeng, Mr. Toh Soon Huat, Mr. Ong King Kok, Ms. Yap Sooi Kuan, Mr. Lee Yee
Pin and Mr. Poh Chong Peng (collectively, the “Share Subscribers” and individually, a
“Share Subscriber”). Pursuant to the terms of the Share Subscription Agreement, the
Company proposes to raise capital by issuing 37,313,430 Shares (the “Subscription Shares”)
to the Share Subscribers (the “Share Subscription”), at an issue price of S$0.1340 for each
Subscription Share (the “Issue Price”), to raise gross proceeds of approximately S$5,000,000.
Further details of the Share Subscription are provided in paragraph 2 of this Announcement.
In addition, the Company has entered into two (2) separate subscription agreements dated 31
March 2014 (the “Tranche 1 Bond Subscription Agreements”) with each of Mr. Awang
Ahmad Sah and Dr. Vigneswaran T. Subramaniam (collectively the “Tranche 1 Bond
Subscribers” and individually, a “Tranche 1 Bond Subscriber”). Pursuant to the Tranche 1
Bond Subscription Agreements, the Company proposes to issue unsecured redeemable
convertible bonds due 2017 (the “Tranche 1 Bonds”) to the Tranche 1 Bond Subscribers (the
“Tranche 1 Bond Subscription”), in the principal amount of S$15,000,000, which can be
converted into Shares (the “Tranche 1 Conversion Shares”). Further details of the Tranche
1 Bond Subscription are provided in paragraph 3 of this Announcement.
The Company has also entered into a subscription agreement dated 31 March 2014 (the
“Tranche 2 Bond Subscription Agreement”) with Tan Sri Dato’ Nik Ibrahim Kamil Bin Tan
Sri Nik Ahmad Kamil (the “Tranche 2 Bond Subscriber), Non-Executive Chairman of the
Company. Pursuant to the Tranche 2 Bond Subscription Agreement, the Company proposes
to issue unsecured redeemable convertible bonds due 2017 (the “Tranche 2 Bonds”) to the
Tranche 2 Bond Subscriber (the “Tranche 2 Bond Subscription”), in the principal amount of
S$20,000,000, which can be converted into Shares (the “Tranche 2 Conversion Shares”).
Further details of the Tranche 2 Bond Subscription are provided in paragraph 4 of this
Announcement.
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The price at which the Tranche 1 Conversion Shares will be
issued upon conversion will be S$0.16 per Tranche 1 Conversion
Share, which represents a premium of approximately 8% to the
Benchmark Price. The Conversion Price will be subject to
adjustment in the manner provided in the applicable terms and
conditions of the Tranche 1 Bonds (the “Conditions”).
infopub.sgx.com/FileOpen/LionGold_Subscription_Announcement_Final_SL_clean.ashx?App=Announcement&FileID=289193