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PROPOSED PLACEMENT OF UP TO 70 MILLION NEW ORDINARY SHARES IN THE CAPITAL OF THE COMPANY (THE "PLACEMENT")
Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meanings as ascribed to them in the Company?s announcement on 20 July 2007 relating to the Placement.
Further to the Company?s announcement on 20 July 2007 in respect of the proposed Placement, the Company is pleased to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") had on 31 July 2007 granted in-principle approval for the listing and quotation of the Placement Shares on the SGX-Sesdaq.
SGX-ST?s in-principle approval is subject to the following:-
(a) compliance with the SGX-ST?s listing requirements and guidelines;
(b) a valid share issue mandate being available and sufficient for the issue and allotment of the Placement Shares; and
(c) the Placement Shares being placed out within 7 market days from 31 July 2007, being the date of the SGX-ST?s letter.
The in-principle approval from the SGX-ST is not to be taken as an indication of the merits of the Placement, the Placement Shares, the Company or its subsidiaries.
Completion of the separate Placement Agreements is expected to take place by 10 August 2007 and the date of the listing and quotation of the Placement Shares on the SGX-Sesdaq will be announced in due course.
By Order of the Board
Koh Teng Kiat
Director
31 July 2007
4 weeks time must make announcement... as in financial year report or?
care to share
anyone can guess will it goes up,im heavily invest in this counter