Ple­ass Global pro­poses is­sue of new shares

Fiji Sun - - Business - RACHNA LAL Feed­back: rach­nal@fi­jisun.com.fj

Ple­ass Global Lim­ited is propos­ing to is­sue shares to a new in­vestor via a pri­vate place­ment. The an­nounce­ment was made through the South Pa­cific Stock Ex­change yes­ter­day. The com­pany said the Pri­vate Place­ment would be for 600,000 or­di­nary shares in the Com­pany, which rank equally in all re­spects with ex­ist­ing is­sued cap­i­tal in the com­pany.

It said the said in­vestor ap­proached the com­pany in late 2014 ex­press­ing in­ter­est in share par­tic­i­pa­tion at a level that was not pos­si­ble through trad­ing on the mar­ket, given the scarcity of shares on of­fer. “Sub­se­quently Ple­ass Global and the in­vestor en­tered into a Con­fi­den­tial­ity Agree­ment on Novem­ber 16, 2015 in re­la­tion to the then ex­pand­ing dis­cus­sions,” it said. “On Au­gust 31, the in­vestor and com­pany ex­e­cuted an in-prin­ci­ple agree­ment to said pri­vate place­ment in a Pri­vate Place­ment Agree­ment de­tail­ing the terms and con­di­tions of such a share is­sue, should the trans­ac­tion pro­ceed.: The com­pany is there­fore seek­ing the con­sent of the rel­e­vant reg­u­la­tory au­thor­i­ties and share­hold­ers to such a trans­ac­tion.

The par­ties agree that sub­ject to clause 2, the In­vestor will sub­scribe for the 600,000 Shares at the price of $2.00 per Share.

Ple­ass Global will there­fore hold a Spe­cial Gen­eral Meet­ing at its of­fice at 16 Amra Street, Walu Bay, Suva, Fiji on Oc­to­ber 18 at 10am. On the agenda is the Pro­posal for an or­di­nary cap­i­tal in­crease by way of a pri­vate place­ment of 600,000 newly is­sued reg­is­tered shares with a premium value of $2 each to a new in­vestor.

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