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HK Bourse: Announcement From Ding He Mining Holdings Ltd.

24 May 2017 4:21 am
 
    Following is the related link: 
http://www.hkexnews.hk/listedco/listconews/sehk/2017/0524/LTN20170524119.pdf 
 
 
                         CLARIFICATION ANNOUNCEMENT 
 
Reference is made to the announcement of the Company dated 23 May 2017 (the 
"Announcement") in relation to, among others, the Subscription of the Subscription 
Shares. Unless the context requires otherwise, capitalised terms used herein shall 
bear the same meanings as defined in the Announcement. 
 
The Company noted there are inadvertent mistakes in the announcement. In 
particular, the Subscription Price was mistakenly stated as HK$0.0392 per 
Subscription Share in the Announcement and would like to clarify that the 
Subscription Price should be HK$0.04 per Subscription Share instead. The mistake 
was caused by calculation and rounding mistake. 
 
The Subscription Price of HK$0.04 per Subscription Share represents (i) a discount 
of approximately 14.89% to the closing price of HK$0.047 per Share as quoted on the 
Stock Exchange on 23 May 2017, being the date of the Subscription Agreement; and 
(ii) a discount of approximately 18.39% to the average of the closing prices of 
HK$0.049 per Share as quoted on the Stock Exchange for the last five consecutive 
trading days immediately prior to the date of the Subscription Agreement. 
 
Consequentially, the aggregate Subscription Price for all 700,000,000 Subscription 
Shares shall be settled by the Subscriber upon completion by way of set off against 
HK$28,000,000 (instead of HK$27,440,000) out of the total Outstanding Sums owed 
by the Company to the Subscriber. Further, subject to the completion of the 
Subscription, the Subscriber agrees to waive the interest accrued on HK$28,000,000 
(instead of HK$27,440,000) out of the total Outstanding Sums for the period from the 
date of the Subscription Agreement to the date of completion of the Subscription. 
 
 
                                            --1-- 
For the avoidance of doubt, all other terms and conditions of the Subscription 
Agreement, including but not limited to the number of the Subscription Shares, 
remain unchanged. 
 
 
 
Source: Hong Kong Exchanges & Clearing 
 
 

(END) Dow Jones Newswires

May 24, 2017 00:21 ET (04:21 GMT)
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