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RM : to place HK$300m convertible bonds

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04/25/2017 | 02:36pm CEST

[ET Net News Agency, 25 April 2017] RM Group (00932) said it agreed to place

convertible bonds in an aggregate principal amount of up to HK$300 million for a term of

two years at the rate of 6% per annum.

The conversion price of HK$4.65 per conversion share represents a premium of about 7.4%

to the closing price of HK$4.33.

Assuming the convertible bonds are fully placed, a maximum of 64.52 million conversion

shares will be issued, representing about 10.9% of the enlarged issued share capital of RM

Group.

The estimated net proceeds of about HK$281 million will be used as to about 90% for

financing the future acquisition and about 10% as general working capital of the Group.

(HL)

(c) 2017 ET Net Limited. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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