TTG Mobile Coupon Services Limited (TTG) today announces that it has signed agreements with three third party professional investors, which are unrelated to TTG, its Directors or any substantial shareholder, in respect of a placement of CHESS Depository Interests (CDIs) pursuant to TTG's 15% placement capacity under ASX Listing Rule 7.1 (Placement).
TTG has agreed to place 1,776,000 CDIs at a price of AUD 1.50 per CDI (Placement CDIs) to raise AUD 2,664,000. The Placement issue price of AUD 1.50 per CDI represents a 15.7% discount to the closing price of TTG as at 29 August 2013.
Net proceeds of the Placement is expected to be approximately AUD 2.4 million, which will be used to finance TTG's RMB 5 million investment in Shenzhen Intelligence Preferential Pay Co., Ltd (“IPP”) and its further expansion.
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