SJM receives 493 acceptances for excess rights shares
The group has received in aggregate 493 valid acceptances and applications in respect to approximately 3.84bn rights shares.
Macau.- Through a company filing, SJM Holdings has reported receipt of 304 valid acceptances in respect to 1,332,427,526 rights shares, representing approximately 93.8 per cent of 1,420,361,073 rights shares available for subscription.
The company also reported 189 valid applications for 2,509,370,437 excess rights shares, representing approximately 176.7 per cent of the number available for subscription. Thus some 493 valid acceptances and applications in respect to 3,841,797,963 right share, representing approximately 270.5 per cent of the total number available for subscription, have been received.
The company reported that for any unsuccessful or partially unsuccessful application for excess warrants (non-interest bearing), a fully paid form of warrant shares and a refund check (if any) are expected to be posted to the allottees and/or applicants today (September 22). Fully paid-up trading of the subscription rights is expected to begin tomorrow (September 23) at 9.00am.
In August, the company reported that it expected to raise net proceeds of nearly HK$2.94bn via the operation and intended to apply approximately HK$2.70bn to fund the increase in SJM Resorts SA’s share capital and the balance for general working capital.
