KLW

KLW: Latest notable news was in mid-Nov '13. KLW will raise proceeds of up to $50m, via the issue of 500m new placement shares at $0.02 each, with put and call options over up to an additional 2b new shares, to Brunei’s Prince Abdul Qawi, the eldest son of Prince Mohamed Bolkiah, who will emerge as a significant shareholder with a ~17% of KLW’s enlarged share base. Separately, KLW has entered into a non-binding MOU to acquire at least 30% interest in Wah Loon Engineering for $60m, with possibility of acquiring the remaining 70% stake for $140m. To raise additional funding, KLW is also planning to issue 2.44b new shares at $0.02 a piece by way of a rights issue with free detachable warrants.