The placement of 108,700,000 shares comprising 43,500,000 new shares and 65,200,000 vendor shares at S$0.23 for each share (the “Placement”). The Placement is expected to raise total gross proceeds of approximately S$25 million.
The offer document has been registered on July 21, 2014 (“Offer Document”) and the Placement, which opens upon the registration of the Offer Document, will close at 12.00 noon on July 25, 2014. Listing and trading of Terratech’s shares on Catalist is expected to commence at 9.00 a.m. on July 30, 2014.
Upon completion of the Placement, Terratech’s market capitalisation is expected to be approximately S$141.46 million.
(Wah, 46% discount to the Independent valuer's preferred fair market value of S$260 million. This is for the investors to cheong the stock ... )