OREANDA-NEWS. May 06, 2013. The Board announced that the Placing would be completed on 30 April 2013 in accordance with the terms of the Placing Agreement in which an aggregate of 397,052,000 Placing Shares has been successfully placed to not less than six Places, who and whose ultimate beneficial owners are independent third parties independent of and not connected with the Company and any connected person (as defined in the Listing Rules) of the Company, at a price of HKD 0.122 per Placing Share.

Reference was made to the announcement of the Company dated 17 April 2013 (the “Announcement”) in relation to the Placing. Capitalized terms used herein shall have the same meanings as defined in the Announcement unless otherwise stated.

The Board announced that the Placing would be completed on 30 April 2013 in accordance with the terms of the Placing Agreement in which an aggregate of 397,052,000 Placing Shares has been successfully placed to not less than six Places, who and whose ultimate beneficial owners are independent third parties independent of and not connected with the Company and any connected person (as defined in the Listing Rules) of the Company, at a price of HKD 0.122 per Placing Share.

The net proceeds of the Placing would be approximately HKD48,140,000. None of the Placees would become a substantial Shareholder (as defined under the Listing Rules) as a result of the Placing.