30th Sep 2014 11:28
LONDON (Alliance News) - LED International Holdings Ltd Tuesday outlined revised arrangements to settle its liabities with a range of creditors and said it will issue 532,875 shares.
The company said it would issue 532,875 shares at HKD6.496 per share, or 50 pence per share. The aggregate amount of HKD3.5 million raised via the issue is being treated as paid to its creditors under the revised arrangements, LED said.
LED said the revised arrangements represents an increase of around 160% on the original settlement price of the liabilities.
LED shares were up 6.4% at 66.5 pence per share on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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