Market participants are requested to note that the name of
iSteelAsia Holdings Limited has been changed to 'North Asia
Strategic Holdings Limited'. Accordingly, the stock short
name of its ordinary shares (stock code: 8080) has also been
changed to 'NAS HOLDINGS' with effect from today (12/09/2005).
On 16th September, 2005, the Company entered into six conditional
subscription agreements and two further conditional subscription
agreements on 19th September, 2005 with eight institutional investors
for the placement of non-redeemable convertible preference shares by the
Company. It is expected that the Placement, if completed successfully,
will raise approximately HK$845.8 million for the Group before expenses.
Discussions with other investors are still ongoing which may lead to the
issue of further non-redeemable convertible preference shares. It is expected that out of the net proceeds of $833.3 million received from the placement, approximately $509.6 million will be used to repay the borrowings to be obtained from independent financial institutions for the purpose of financing the acquisition.
10 Oct 2005 15:52
North Asia Strategic Holdings Limited (8080) will probably finance the acquisition in the future by way of share issue and look forward to migrate to the Main Board, said CEO and Executive Director Chow Sing-nam.
The company said the resolution has been passed in the special shareholders' meeting to acquire 70% interests in Best Quality Limited, a computer and knitting machine distribution company, at the cash consideration of $510 million. Chow said the consideration was originally planned to be satisfied by the issue of preferential shares. However, as there is discrepancy between the confirmation time and completion time of the acquisition, the consideration was satisfied by the proceeds from bridging loan, which will be repaid upon the confirmation of preferential share issue. The acquisition of Best Quality is expected to complete in the mid October.
Chow added that the company will be seeking investments in various fields like consumption sector, technical, media and telecommunication sectors besides those with industrial nature. There is, however, no concrete target currently but the attention will be focused on those profitable located in Japan, South Korea and PRC and with yearly turnover of US$100-500 million.
17 Oct 2005 11:10 North Asia Strategic Holdings Limited (8080) announced to extend the date of completion of the acquisition of 70% interest in Best Quality Limited (BQL) from 15 October to 31 October. Trading in the company's shares will remain suspended until further notice.
und schon wieder ausgesetzt!
ich hoffe du kannst wenigstens ausreichend englisch,wenn du schon mit sowas rumzockst ggg
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