Sky China Petroleum: halt lifted at 9am this morning. Private placement of 60.3m new shares at issue price of $0.1768/sh, representing 16% discount to last close at $0.21. The new issue makes up 17.67% of existing total issued and paid up capital and 15.02% of the enlarged new share base…
The proceeds of $10.61m, in conjunction with existing company resources, are to be used to fund the acquisition of a vessel for expansion into the oil transportation segment. The NAV/sh will drop to $0.295 from $0.353, and EPS to drop to 1.37cs from 1.64cts, based on 1H10 figures.
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