Placing Period definition
Examples of Placing Period in a sentence
On 16 May 2019, the Placing Agent and the Company entered into the Placing Agreement, pursuant to which the Placing Agent conditionally agreed to procure, on a best efforts basis, the Placees to subscribe in cash for the Bonds in an aggregate principal amount of up to HK$150,000,000 during the Placing Period.
Placing Period : The period commencing from the date of the Placing Agreement and terminating on the date falling on the expiration of six (6) months from the date of the Placing Agreement (or such later time and date as the Company and the Placing Agent may agree in writing).
As additional time is required for obtaining approval by Shareholders on the New Specific Mandate and taking into consideration of the status of the Placing, the Company intended to continue to proceed with the Placing by extending the Placing Period and postponing the Placing Long Stop Date.
After considered the reasons above, the Company considers that the extension of the Placing Period, the postponement of the Placing Long Stop Date and the Change in Use of Proceeds are fair and reasonable and in the interests of the Company and its Shareholders as a whole.
The Placing is conditional upon (i) passing of the resolution(s) in relation to the Placing and the transactions contemplated thereunder and the Specific Mandate by the Shareholders at the EGM; (ii) the Placing Agent successfully procuring Placee(s) to place the Placing Shares during the Placing Period and (iii) the Listing Committee of the Stock Exchange granting approval for the listing of, and permission to deal in, the Placing Shares.