Tuesday, September 24, 2013
WE Holdings: Extended long-stop date for the $20m acquisition in Dragon Cement from 22 Sep to 21 Nov, to accomodate the laws and regulations in Myanmar. This is the third extension for the proposed 20% share acquisition which was originally slated to complete on 16 Aug. Dragon Cement is principally engaged in the business of manufacturing cement in Myanmar. With the acquisition, the plant’s production capacity is targeted to double from 400 to 800 tonnes a day. WE intends to fund the proposed 20% stake through its recent rights cum warrants issue.