TIDMRCG
RNS Number : 7228Z
RCG Holdings Limited
28 September 2009
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| Press Release | 28 September 2009 |
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RCG Holdings Limited
("RCG" or the "Company")
Appointment of placing agent in Hong Kong
RCG Holdings Limited (AIM:RCG, HKSE:802), an international provider of biometric
and RFID products and solution services with a primary focus in the Asia Pacific
markets, is pleased to announce that on 25 September 2009, the Company entered
into a framework agreement (the "Placing Agreement") with SBI E2-Capital
Securities Limited (the "Placing Agent"), pursuant to which the Placing Agent
has conditionally agreed to act as agent for the Company, on a best endeavours
basis, to seek to procure independent placees for up to 20,000,000 new ordinary
shares of HK$0.01 each in the Company (the "Placing Shares"), representing up to
7.89 per cent of the existing issued share capital of the Company. The Placing
Shares will be placed at a price 78.15 pence (HK$9.69) (the "Placing Price") per
Placing Share. Placing Shares are to be issued pari passu with the Company's
existing issued ordinary shares. The Placing Agreement expires on 20 October
2009.
It is intended that the net proceeds of issuing the Placing Shares will be used
for financing potential expansion into government sector projects, research and
development operations and the Group's potential operational expansion into
Southeast Asia, the Middle East and PRC markets.
The Directors consider that the Placing Price and the terms of the Placing
Agreement are fair and reasonable and are in the best interests of the Company
and RCG's shareholders as a whole.
Further announcements will be made upon placees being procured for part or all
of the Placing Shares. Completion of the Placing is conditional upon the listing
approval being granted by the Hong Kong Stock Exchange in respect of the Placing
Shares and application for admission to trading on AIM will be made
concurrently.
The Placing Shares will be allotted and issued pursuant to the Company's
existing authorities granted at the Company's annual general meeting held on 21
April 2009 which provide for up to 49,575,000 new ordinary shares to be issued.
The Company will comply with the applicable requirements of the AIM Rules and
the Hong Kong Listing Rules in relation to any future investments. The Directors
also hope that liquidity of trading in the Company's shares, particularly in
Hong Kong, will be enhanced by the admission to trading of the Placing Shares.
- Ends -
For further information:
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| RCG Holdings Limited | |
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| Anita Chau, Deputy Chairman and COO | Tel: +852 3669 6999 |
| KC Chong, CFO | |
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| Evolution Securities Limited | |
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| (Nominated adviser and joint broker) | |
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| Barry Saint / Stuart Andrews / Tim Redfern / | Tel: +44 (0) 20 7071 |
| Esther Lee | 4300 |
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| Evolution Securities China Limited | |
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| (Joint broker) | |
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| Anthony Schindler | Tel: +44 (0) 20 7071 |
| | 4300 |
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Media enquiries:
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| Abchurch Communications Limited | |
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| Henry Harrison-Topham / George Parker | Tel: +44 (0) 20 7398 |
| | 7702 |
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| henry.ht@abchurch-group.com | www.abchurch-group.com |
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About RCG
RCG, a leading global provider of integrated biometrics and RFID security
solutions, is publicly quoted and its shares are listed on the Main Board of the
Stock Exchange of Hong Kong Limited and admitted to trading on the AIM Market of
the London Stock Exchange and the PLUS market. The Company has an aggressive
growth strategy with a clear focus on developing new applications and revenue
streams for global roll-out, particularly in the security applications industry.
This information is provided by RNS
The company news service from the London Stock Exchange
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