Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock Code: 136) UPDATE ON THE POSSIBLE FUND RAISING EXERCISE
Reference is made to the announcement of Mascotte Holdings Limited (the "Company", together with its subsidiaries, the "Group") dated 17 July 2012 (the "Announcement"), relating to its contemplation of a rights issue exercise.
The board of directors (the "Board") of the Company wishes to state that, up to the date of this announcement, the Company and the proposed underwriter are still in the course of negotiations on the terms of the possible rights issue. None of the terms of the possible rights issue have been finalised. The terms of the proposed rights issue as disclosed in the Announcement, including the subscription price, may change subject to further negotiations and final agreement between the Company and the proposed underwriter.
Tentatively, the Company intends to raise approximately HK$490 million through the possible rights issue and apply such proceeds for (i) the repayment of existing debts and payment of interest and (ii) for working capital purposes, including the enhancement of the Group's production facilities in respect of its polycrystalline silicon business.
By order of the Board
Mascotte Holdings Limited
Suen Yick Lun PhilipExecutive Director and Company Secretary
Hong Kong, 4 January 2013
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As at the date of this announcement, the Board comprises the following Directors:
Executive Directors Independent Non-executive Directors
Mr. Peter Temple Whitelam (Chairman) Mr. Frank H. Miu
Mr. Lo Yuen Wa Peter (Managing Director) Dr. Agustin V. Que
Mr. Eddie Woo Mr. Robert James Iaia II Mr. Suen Yick Lun Philip
Mr. Lau King Hang
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