PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. As at the date of this announcement, the authorised share capital of the Company is HK$500,000,000 divided into 500,000,000 Shares, of which 235,831,447 Shares are in issue and fully paid or credited as fully paid. On the assumption that no further Shares will be issued after the date of this announcement, 943,325,788 Rights Shares will be issued pursuant to the Rights Issue. In order that a sufficient number of unissued Shares are available for the Rights Issue, the Board proposes to increase the authorised share capital of the Company from HK$500,000,000 to HK$2,000,000,000 by the creation of 1,500,000,000 Shares (the “Capital Increase”). The Capital Increase is conditional upon
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. The current authorised share capital of the Company is HK$200,000,000 which is currently divided into 2,000,000,000 Shares, and the existing issued share capital of HK$148,551,889.70 divided into 1,485,518,897 Shares. In order to fulfill the future issue obligations under the Consideration Shares and the Convertible Bonds and to accommodate future expansion and growth, the Board proposes to increase the authorised share capital of the Company from HK$200,000,000 to HK$1,000,000,000 by the creation of an additional 8,000,000,000 Shares (the “Share Capital Increase”). Immediately upon the Share Capital Increase becoming effective and assuming no further Shares will be issued or no Shares will be repurchased from the date of this announcement up to the EGM, the authorised share capital of the Company will be HK$1,000,000,000 divided into 10,000,000,000 Shares, and the issued share capital of Company will be HK$148,551,889.70 divided into 1,485,518,897 Shares. The Share Capital Increase is subject to the approval of the Shareholders by way of an ordinary resolution at the EGM.
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. As at the date of this announcement, the Company’s authorised share capital is HK$80 million divided into 3,200,000,000 Shares. In order to facilitate the Rights Issue and to provide the Company with greater flexibility for potential future fund raising activities, the Company proposes that the authorised share capital of the Company be increased to HK$150 million divided into 6,000,000,000 Shares. The proposed Increase in Authorised Share Capital is subject to the approval of the Shareholders by way of an ordinary resolution at the SGM.
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. In order to facilitate the Rights Issue, to accommodate the future expansion and growth of the Group and to provide the Company with greater flexibility for future expansion in the share capital of the Company, the Company proposes that the authorised share capital of the Company be increased to HK$150 million divided into 6,000,000,000 Shares. The Board is of the view that the Increase in Authorised Share Capital will provide flexibility to the Company for future fundraising and expansion in the share capital of the Company, and is therefore in the interests of the Company and the Shareholders as a whole. The proposed Increase in Authorised Share Capital is subject to the approval of the Shareholders by way of an ordinary resolution at the SGM. As none of the Shareholders or their associates would have any interest in the Increase in Authorised Share Capital, no Shareholder would be required to abstain from voting in respect of the resolution(s) relating to the Increase in Authorised Share Capital at the SGM.
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. PROPOSED RIGHTS ISSUE ON THE BASIS OF FIVE (5) RIGHTS SHARES FOR EVERY EIGHT (8) SHARES HELD ON THE RECORD DATE;
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. The Board proposes to seek the approval by way of ordinary resolution by Shareholders at the SGM of an increase in its authorised share capital from HK$50,000,000 divided into 400,000,000 ordinary Shares and 100,000,000 preference shares of par value of HK$0.10 each to HK$500,000,000 divided into 4,900,000,000 ordinary Shares and 100,000,000 preference shares of par value of HK$0.10 each by creating an additional 4,500,000,000 unissued ordinary Shares. In order to accommodate growth of the Group and to provide the Company with greater flexibility to raise funds by the Rights Issue, the Board proposed the Increase in Authorised Share Capital. The Board believes the Increase in Authorised Share Capital is in the interests of the Company and the Shareholders as a whole.
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. As at the date of this announcement, the authorised share capital of the Company is HK$300,000,000 divided into 3,000,000,000 Shares, of which 2,124,515,172 Shares have been allotted and issued as fully-paid or credited as fully-paid. In order to facilitate the proposed Open Offer, to accommodate the future expansion and growth of the Group and to provide the Company with greater flexibility for future expansion in the share capital of the Company, the Directors propose that upon the Change of Domicile and the Capital Reorganisation becoming effective, the authorised share capital of the Company will be increased from HK$300,000,000 divided into 3,000,000,000 New Shares to HK$1,000,000,000 divided into 10,000,000,000 New Shares by the creation of 7,000,000,000 additional New Shares, which will, upon issue and being fully-paid, rank pari passu in all respects with the New Shares in issue.
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. As at the date of this announcement, the authorised share capital of the Company is HK$300,000,000 divided into 3,000,000,000 Existing Shares, of which 2,124,515,172 Existing Shares have been allotted and issued as fully-paid or credited as fully-paid. In order to facilitate the proposed Open Offer, to accommodate the future expansion and growth of the Group and to provide the Company with greater flexibility for future expansion in the share capital of the Company, the Directors propose that upon the Change of Domicile and the Capital Reorganisation becoming effective, the authorised share capital of the Company will be increased from HK$300,000,000 divided into 3,000,000,000 New Shares to HK$1,000,000,000 divided into 10,000,000,000 New Shares by the creation of 7,000,000,000 additional New Shares, which will, upon issue and being fully-paid, rank pari passu in all respects with the Shares in issue. The Increase in Authorised Share Capital is conditional upon the passing of an ordinary resolution by the Shareholders at the SGM.
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. In order that a sufficient number of unissued Shares are available for the Rights Issue, the Board proposes to increase the authorised share capital of the Company from HK$500,000,000 to HK$2,000,000,000 by the creation of 1,500,000,000 Shares. The Rights Issue shall be subject to the Capital Increase becoming effective. Reference is made to the announcements (the “Announcements”) of International Entertainment Corporation (the “Company”) dated 23 November 2004, 17 March 2005, 29 September 2005, 6 January 2006, 22 June 2006, 3 August 2006, 11 August 2006 and 22 December 2006 in relation to the Acquisition and the Rights Issue. Terms used in this announcement shall have the same meanings as defined in the Announcements unless the context requires otherwise. On 23 November 2004, the Company, Cross-Growth Co., Ltd. (“Cross-Growth”) and Chow Tai Fook Enterprises Limited (“CTF”) entered into a conditional agreement (the “Acquisition Agreement”) for the acquisition of the Hotel Interest and the Macau Interest by the Company, and the Company and CTF entered into a conditional agreement (the “Underwriting Agreement”) in relation to the underwriting by CTF of certain Rights Shares to be issued under the Rights Issue. The Board would like to announce that on 26 June 2007, the respective parties to the Acquisition Agreement and the Underwriting Agreement entered into a supplemental agreement pursuant to which they agreed, among other things, to the following amendments to the Acquisition Agreement and the Underwriting Agreement: FHPI has contracted with Philippine Amusement and Gaming Corporation (“PAGCOR”), the operator of the casino premises leased to it by the Acquired Group, to introduce foreign passport holders to a designated non-peso gaming area (the “Foreign Area”) within the casino. PAGCOR is a government- owned and controlled corporation created by the PAGCOR Charter which granted PAGCOR with the legislative franchise and the dual role of operating and regulating gambling casinos in the Philippines, and is independent of and not connected with the director, chief executive, substantial shareholder or management shareholder of the Company or any of its subsidiaries or an associate of any of them. Given that the primary aim of the Acquisition is for the Company to acquire, own and operate the “Hyatt Hotel and Casino Manila” (including the ownership and the leasing of the casino premises as mentioned above) and the future prospects of FHPI’s business are uncer...
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. In order to facilitate the possible conversion of the Convertible Notes, the Directors propose to the Shareholders to increase the authorised share capital of the Company from HK$300,000,000 (divided into 3,000,000,000 Shares) to HK$3,000,000,000 (divided into 30,000,000,000 Shares) by the creation of an additional 27,000,000,000 Shares. The Increase in Authorised Capital is conditional upon the passing of an ordinary resolution by the Shareholders at the SGM. The SGM will be convened and held for the Shareholders to consider and, if thought fit, approve the Increase in Authorised Capital and the granting of the Specific Mandate. A circular containing, among other things, (i) further details about the Increase in Authorised Capital and the granting of the Specific Mandate; and (ii) the notice convening the SGM, will be despatched by the Company to the Shareholders as soon as practicable. No Shareholder is required to abstain from voting at the SGM. So far as the Directors are aware, no Director or Shareholder has a material interest in the subscription of the Convertible Notes.
