Tuesday, December 7, 2010

Guangzhao Ind Forest

Guangzhao Ind Forest: Request lifting of trading halt on 7 Dec 2010, 9am. Trading halt was due to private placement of 45m new shares at $0.0801 to several individuals. Last done price was $0.095, and price issued was 20.0% disc to VWAP of $0.1001 of prev 2 days...

The shares placed out were approx 6.38% of total shares outstanding and proceeds $3.6m. The individuals were introduced by the Executive Directors of the co. Price has been on decline since mid Nov where co proposed to diversify into vegetable business.

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