Geo, Dektos sign share subscription deal
Wednesday, April 22 2015 - 03:58 AM WIB
SGX-listed integrated coal mining group Geo Energy Resources Limited said on Tuesday it has entered into a share subscription agreement dated April 21, 2015 with Dektos Capital SPC, acting for the account of EVA Capital SP as the subscriber, pursuant to which the subscriber shall subscribe for, and the company shall allot and issue, 28,000,000 new ordinary shares at an issue price of S$0.18 per share.
Geo said it will allot and issue the new shares pursuant to the general share issue mandate to be obtained from shareholders of the company at the annual general meeting to be held on April 29, 2015.
The company has undertaken that it shall submit an additional listing application (ALA) to the Singapore Exchange Securities Trading Limited (SGX-ST) for the new shares to be listed and quoted on the Main Board of the SGX-ST, and it shall execute all such documents and do all acts and things as may be necessary or advisable for such purpose.
Dektos Capital SPC is a segregated portfolio company incorporated in the Cayman Islands on August 10, 2012 for the purpose of investing in global assets across equity, fixed income, currency and commodity asset classes.
The fund size of the subscriber is S$15.0 million and its investors consist of Asian high net worth individuals. The subscriber's investment mandate focuses on equities and/or debts of both listed and private entities.
Dektos Investment Corporation Pte. Ltd. approached GEO?s Executive Chairman, Charles Antonny Melati, and expressed its intention to invest in the company on behalf of the subscriber.
Geo Energy Group is an established and experienced coal mining group operating out of Indonesia. Headquartered in Singapore with a branch office in Jakarta, Indonesia. Geo Energy Group currently owns PT Bumi Enggang Khatulistiwa (BEK), the Mining Business License (IUP) owner of a 4,570 hectare coal mining concession area in Kutai Barat, East Kalimantan, and subsidiary companies that are responsible for mining, as well as heavy equipment and machinery procurement and rental.
Editing by Reiner Simanjuntak