CPH

CPH: enters into placement agreement with DBSV as placement agent. To issue 150m new shares (13.9% of existing sh base) at placement price of 0.99 cts/sh. This translates to a 17.5% discount to the counter’s last closing px at 1.2cts. There is no moratorium on the placement shares. Est net proceeds is ~$1.44m, of which 70% will be used for invmt and business expansion through acq, JVs and collaborations in businesses other than the PCB business as and when opportunities arise, and the remainder to be used as general working capital purposes for the purchase of raw mat’ls in the PCB business. Based on FYMar12 numbers, NAV/sh will decrease from 1.91ct to 1.79ct. The co was loss making in FY12.