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01166 SOLARTECH INT'L
RTNominal unchange0.280 0.000 (0.000%)
Others

14/07/2011 09:31

Solartech (01166) places up to 505m shares for HK$98m

Solartech International (01166) said it agreed to
place up to 505 million shares at HK$0.2 apiece, representing a discount of about 34.43%
to the closing price of HK$0.305.
The placing shares represent about 28.57% of the enlarged issued share capital of
Solartech.
The maximum gross proceeds and net proceeds of the placement are about HK$100.9 million
and HK$98 million. Solartech intends to utilize about HK$50 million as part of the
consideration for the acquisition of cooper mines in Mongolia as announced earlier and the
remainder of the proceeds will be used for the general working capital of the Group.
(HL)

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