11th Oct 2011 07:00
11 October 2011
LED International Holdings Limited
("LED" or the "Company")
Placing of New Ordinary Shares
LED is pleased to announce that, on 9 October 2011, it placed 12,500,000 new ordinary shares of HK$0.10 each (the "Placing Shares") at a placing price of RMB0.20 (approximately 2.0 pence) per ordinary share, raising RMB2,500,000 (approximately £252,000) (the "Subscription Funds"). The placing price represents a 321 per cent. premium to the closing mid-market price of 0.475p on 7 October 2011, being the last practical date before the placing. The placing proceeds will be used to augment LED's working capital position and assist in the continued development of LED's energy management contract (EMC) model.
It is anticipated that the Subscription Funds will be received during the week commencing 17 October 2011 and, following receipt, an application will be made for the Placing Shares to be admitted to trading on AIM. Further announcements in this regard will be made at the appropriate time. Following the issue of the Placing Shares the Company's issued share capital will be 366,238,267 ordinary shares of HK$0.10 each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.
**Ends**
For further information:
LED International Holdings Limited | |
Stephen Chan - Chief Executive Officer | +852 2243 3100 |
Allenby Capital Limited | |
Nick Naylor / Alex Price | +44 (0) 20 3328 5656 |
Notes to Editors:
LED International Holdings Limited and its subsidiaries specialise in the development, manufacture and sale of low powered led screens, outdoor signs, lamps, lighting and building illumination; and high powered / medium powered led energy efficient indoor and outdoor lighting products.
For more information, please visit: http://www.led-intl.com
Related Shares:
Led International Holdings