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Monday, November 1, 2010

[cpsnewswire] BREAKING NEWS: North Asia Issues US$13M Convertible Bonds

CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.

Mogi: Dear subscribers, due to my mail server spam-blocking my newswires, I'm currently resorting to distributing them from an internet account. Thus, in replying back, please note to direct them to mogi@cpsinternational.mn. Thank you.

 

NAR Issues US$3M and US$10M 3 Year Convertible Bonds

November 1 (Mogi) North Asia Resources Holdings Limited (HKG:0061) announced this morning that the company entered into agreements after Friday, October 29 trading hours to issue a US$3M 3 year Convertible Bond to Grandwin Enterprises Limited at a Conversion Price of HK$1.70 and a US$10M 3 Year Convertible Bond to Business Ally Investments Limited at the same Conversion Price of HK$1.70.

Grandwin Enterprise's Conversion Shares of 13.7M represents 1.66% of the NAS's existing share capital of 823M shares.

Business Ally Investment's Conversion Shares of 45.6M represents 5.45% of the NAS's then existing share capital of 836.7M shares, based on the assumption the Grandwin exercises the above CB.

NAR shares closed at HK$1.37 on Friday.

The company states the proceeds will be used for general working capital and to acquire iron concessions in Mongolia and/or any other possible acquisitions in the future.

Link to announcement

 

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"Mogi" Munkhdul Badral

Executive Director

CPS International LLC

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Mobile: +976-99996779

Email: mogi@cpsinternational.mn

 

Suite 906, Central Tower

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CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.

 

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