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Expected news..but why placement new share need so many days to announce?
Hope it is not Bollywood drama.
SmallSmall ( Date: 22-May-2020 08:28) Posted:
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UPDATE ON THE PLACEMENT OF 266,666,600 NEW ORDINARY SHARES AT AN ISSUE PRICE OF S$0.0225 PER SHARE TO RAIN ASIA PACIFIC PTE. LTD. - EXTENSION OF TIME FOR COMPLETION OF PLACEMENT
Unless otherwise defined, all terms used herein shall bear the same meaning as in the Company&rsquo s announcements dated 26 March 2020, 4 May 2020, 20 May 2020 and 21 May 2020 (the &ldquo Previous Announcements&rdquo ). The Board of Directors (the &ldquo Board&rdquo ) of Addvalue Technologies Ltd (the &ldquo Company&rdquo ) refers to the Previous Announcements in relation to the proposed placement (the &ldquo Placement&rdquo ) of 266,666,600 new ordinary shares in the capital of the Company (&ldquo Placement Shares&rdquo ) at an issue price of S$0.0225 per share for an aggregate consideration of S$6.0 million to Rain Asia Pacific Pte Ltd (&ldquo Rain Asia&rdquo ). Further to the Company&rsquo s announcement dated 21 May 2020, the Company has received notification from Rain Asia that, due in part to certain banking administrative procedural matters beyond the control of Rain Asia, it requires more time to work with the financial institution to clear the remaining processes for the transfer of the requisite funding for the payment of the Subscription Monies. In light of the upcoming Eid al-Fitr in the United Arab Emirates during which banks are closed for business from tomorrow until (and including) Monday, 25 May 2020, Rain Asia has requested for the Company&rsquo s agreement to a deferment of the Completion to no later than 29 May 2020.
Rain Asia has informed the Company that it is getting its bank to provide documentary evidence (by way of a proof of funds on its account issued by the financial institution favouring the Company) of the availability of an amount equal to S$6.0 million for the payment of the Subscription Monies, and would deliver the same upon receipt. Notwithstanding the delay, Rain Asia has reiterated to the Company of its firm commitment to complete the subscription of the Subscription Shares. In light of the above, the Company has agreed to the deferment of the Completion to no later than 29 May 2020, subject to there being no objection from the Singapore Exchange Securities Trading Limited to such deferment.
Unless otherwise defined, all terms used herein shall bear the same meaning as in the Company&rsquo s announcements dated 26 March 2020, 4 May 2020, 20 May 2020 and 21 May 2020 (the &ldquo Previous Announcements&rdquo ). The Board of Directors (the &ldquo Board&rdquo ) of Addvalue Technologies Ltd (the &ldquo Company&rdquo ) refers to the Previous Announcements in relation to the proposed placement (the &ldquo Placement&rdquo ) of 266,666,600 new ordinary shares in the capital of the Company (&ldquo Placement Shares&rdquo ) at an issue price of S$0.0225 per share for an aggregate consideration of S$6.0 million to Rain Asia Pacific Pte Ltd (&ldquo Rain Asia&rdquo ). Further to the Company&rsquo s announcement dated 21 May 2020, the Company has received notification from Rain Asia that, due in part to certain banking administrative procedural matters beyond the control of Rain Asia, it requires more time to work with the financial institution to clear the remaining processes for the transfer of the requisite funding for the payment of the Subscription Monies. In light of the upcoming Eid al-Fitr in the United Arab Emirates during which banks are closed for business from tomorrow until (and including) Monday, 25 May 2020, Rain Asia has requested for the Company&rsquo s agreement to a deferment of the Completion to no later than 29 May 2020.
Rain Asia has informed the Company that it is getting its bank to provide documentary evidence (by way of a proof of funds on its account issued by the financial institution favouring the Company) of the availability of an amount equal to S$6.0 million for the payment of the Subscription Monies, and would deliver the same upon receipt. Notwithstanding the delay, Rain Asia has reiterated to the Company of its firm commitment to complete the subscription of the Subscription Shares. In light of the above, the Company has agreed to the deferment of the Completion to no later than 29 May 2020, subject to there being no objection from the Singapore Exchange Securities Trading Limited to such deferment.
Scammy is being very diplomatic liao
cfm cancel...addvaltech is quite scammy...
Luckystrike ( Date: 21-May-2020 20:04) Posted:
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Still no news. It is considered as being cancelled already.
johnng ( Date: 21-May-2020 15:21) Posted:
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I only afraid the Placment got cancel...then GG back to 24....
I dont know much about this companies but they seem confidence of what they are doing..Dr Collin is the driver
Thanks for sharing! I' m vested at 0.3 since Jan.
johnng ( Date: 06-May-2020 20:24) Posted:
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NEXTINSIGHT SAY THIS ONE NEXT AEM INFLECTION POINT??
https://www.nextinsight.net/story-archive-mainmenu-60/943-2020/13508-addvalue-tech-reached-inflection-point-for-strong-re-rating
https://www.nextinsight.net/story-archive-mainmenu-60/943-2020/13508-addvalue-tech-reached-inflection-point-for-strong-re-rating