Friday, September 27, 2013

Hartawan Holdings

Hartawan Holdings: Two-year long proposed acquisition of Wilton Resources Holdings has been brought back to life. The $300m acquisition will be via the issue of 1,500m shares at $0.20/share and would result in a RTO, transforming Hartawan from a property leasing and hospitality group into a gold-mining company. Thereafter, Hartawan Holdings will be known as Wilton Resources Corporation. As a payment for corporate advisory, Hartawan will issue an additional 4.4m shares to Canaccord Genuity. In addition, Hartawan proposed a 12-into-10 share consolidation after the acquisition, on its enlarged share base of 2,316.5m shares. Approval of the above will be sought at the EGM to be held on 21 Oct at 10am.

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