Guangdong Silver Age Sci & Tech Co., Ltd. announced that it expects to receive CNY 379.94 million in funding.
January 24, 2015
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Guangdong Silver Age Sci & Tech Co., Ltd. (SZSE:300221) announced a private placement of not more than 29,660,000 common shares at CNY 12.81 per share for gross proceeds of CNY 379,944,600 on January 24, 2015. The transaction will include participation from effective controller, Tan Songbin. The transaction has been approved in the 9th meeting of the 3rd directorate and the 8th meeting of the 3rd supervisory board of the company. The transaction is subject to shareholders' approval at its 1st extraordinary general meeting, shareholders' approval of the investor's freedom from increasing shares through tender offer, and the China Securities Regulatory Commission. The shares issued will be subject to a hold period of 36 months from the date of issue.
On February 13, 2015, the company announced that the transaction has been approved at its 1st extraordinary general meeting of 2015.
On July 16, 2015, the company amended the terms of the transaction. The company will now issue up to 59,320,000 shares at a price of CNY 6.38 per share for gross proceeds of up to CNY 380,000,000. The amendment was done following dividend payment.
Guangdong Silver Age Sci &Tech Co Ltd is a China-based company mainly engaged in the research and development, production and sales of new polymer materials. The Company's business includes polymer modified plastics, smart lighting, 3D printing materials and precise chemicals. The Company's main products are modified plastics, consumer smart set light strips, lamps, silicone neon light strips, holiday light strings, cabinet lights, bathroom space lighting and bathroom waterproof light strips. The Company mainly conducts business in domestic and foreign markets.
GUANGDONG SILVER AGE SCI & TECH CO.,LTD. 
