Burwill Holdings Reports on Expiry of Subscription Agreement
OREANDA-NEWS. April 28, 2014. The Company has not received a subscription notice from the Subscriber to subscribe for the Subscription Shares. All the parties are now negotiating on the postponement opportunity of the Subscription as requested by the Subscriber.
Reference is made to the announcement of the Company dated 16 October 2013 (the “Announcement”) in relation to, among other things, the Subscription. Capitalised terms used herein have the same meanings as defined in the Announcement unless otherwise specified. All conditions precedent, as mentioned in the Announcement, in the Subscription Agreement for completion of the Subscription had been fulfilled.
The Company has not received a subscription notice from the Subscriber to subscribe for the Subscription Shares under the terms and conditions as stipulated in the Subscription
Agreement during the Subscription Period. All the parties are now negotiating on the postpone ment opportunity of the Subscription as requested by the Subscriber. The Company will make
further announcement in this regard as and when required.
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