STTCOMP VMG, FA LONG
MC 5.5 MIO 0.003
ANZ Share Investing | Online Share Trading
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Company ProfileVDM Group Limited (VMG) is a diverse company providing Construction and equipment hire activities in land development, road construction, and building construction. They are also involved in import/export of goods and in mining activities. Their operations are divided into four divisions which includes Construction, Equipment sales, Trading and Mining.
CF International Dev Ltd HongKong just did a CR @ 1cts at 900 % premium. Why would someone do it? I don't know. Maybe the Cachoeiras do Binga copper project located in the Republic of Angola (CdB) will go ahead.
They made a loss last year and were low on cash. Why would someone throw 4 MIO at this company?
This is def. a punt and I will do more homework over the weekend.
The issue price of $0.01 represents a 900% premium to the last traded price
of VDM prior to trading halt.
Capital Raising
VDM Group Limited (VDM or the Company) (ASX: VMG) is pleased to
announce a share placement to CF International Development Limited of
Hong Kong, a sophisticated investor, pursuant to the Company’s 15%
placement capacity (under ASX Listing Rule 7.1) (Private Placement).
A total of 400,000,000 new shares have been issued to CF International
Development Limited at $0.01 per share (1 cent each) to raise $4 million –
refer Appendix 3B attached. No commissions or other fees are payable in
connection with the Private Placement.
The issue price of $0.01 represents a 900% premium to the last traded price
of VDM prior to trading halt.
The funds will be used to advance the Company’s highly prospective
Cachoeiras do Binga Copper Project in Angola and working capital.
Commenting on the Private Placement, VDM’s Executive Director of Mining
Dr Dongyi Hua stated:
“This is a significant milestone for VDM. We are grateful to CF International
Development Limited for the confidence that they have placed in VDM and
our team, and we look forward to quickly advancing our highly prospective
copper project in Angola”
Cleansing Notice - Notice Pursuant to Section 708A(5)(E) of the
Corporations Act 2001
Pursuant to Section 708A(5)(E) of the Corporations Act 2001, the Company
notifies ASX that:
a) the Shares were issued without disclosure to investors under Part
6D.2 of the Act;
b) this Notice is being given under Section 708A(5)(e) of the Act;
c) as at the date of this Notice, the Company has complied with:
i) the provisions of Chapter 2M of the Act as they apply to the
Company; and
ii) Section 674 of the Act; and
d) as at the date of this Notice, there is no excluded information, within
the meanings of section 708A(7) and 708A(8) of the Act.
For further information please contact:
Michael Fry
Company Secretary
VDM Group Limited
(20min delay)