The Board of Directors of Healthway Medical Corporation Limited (the “Company”) wishes to announce that the Company is in advanced discussions with a major international financial institution (“FI”) for an equity and debt funding package (the “Funding”) of up to US$25 million. The terms and conditions of the Funding have been substantially agreed between the Company and the FI. The Funding is, inter alia, subject to the FI’s board approval. The FI’s board is expected to meet and
decide on the Funding by end February 2010.....
.... The Company will convene an Extraordinary General Meeting (“EGM”) to seek the approval of the shareholders of the Company (the “Shareholders”) on the above transactions. This EGM is expected to be held in the first quarter of 2010.
As the Funding and the Placement are still subject to the FI’s board approval and/or Shareholders’ approval at the EGM, the Company wishes to state that there is no assurance that approval of the FI’s board and/or the Shareholders will be obtained and the Funding and the placement will be undertaken.
Healthway Medical is attracting the attention of international financial institutions now which is good. They are doing a share placement which is bad as it does not allow minority shareholders to participate.
FAKE ASSI AK71 IN HWZ.
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7 comments:
Hi AK71,
For Healthway medical, what do you mean by share placement ? Is it IPO ? Didnt they just have a rights issue ?
Thank you
Regards
Phyllis
Hi Phyllis,
There are many ways a company can raise funds. Both rights issue and share placement are methods of fund raising through issuing new company shares.
While rights issue will let all shareholders participate in the enlarged capital base of the company, share placement is usually offered to large investors only.
Healthway probably needs more funds than what the rights issue is able to raise. The proposed share placement will probably supplement the rights issue.
healthway will be on channel news asia money mind programe at 2130 hrs this sunday.
Getting more attention by the day.
in your personal judgement, u think this will jerk up the price or pull down? just as a reference
thanks
CL
Well, having positive publicity is always good. I cannot say if it will send Healthway's share price higher but it is reasonable to think it will help put a floor to the share price.
yea keep our fingers crossed.
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