英文

[ET Net News Agency, 2 October 2013] Synertone Communication Corporation (01613) said it agreed to issue 120 million unlisted warrants to CITIC Merchant Co.儲存, Limited at an issue and subscription price of HK$0.01 and HK$2 apiece.Upon the full exercise of the subscription rights attaching to the warrants, 120 millionwarrant shares will be issued, representing about 9.09% of the enlarged issued share capital of Synertone.The aggregate of the issue and subscription price of HK$2.01 represents a premium of about 15.52% over the closing price of HK$1.74.The net proceeds from the subscription of warrants are mini storagebout HK$1 million which will be applied as the general working capital of the Group. Assuming the full exercise of the subscription rights attaching to the warrants, the net proceeds of about HK$241 million shall be applied as the general working capital of the Group as well as supporting funds for the Group's intended new business of the provision of vertically integrated satellite communication services.CITIC Merchant is legally and beneficially owned by CITIC Group. The principal business of CITIC Merchant is the provision of an integrated merchant banking service and related investment platform. (HL)self storage