PVTIME – GCL-Poly Energy Holdings Limited (the “Company”) refers to the announcement issued by the Company on 15 December 2021 (the “Placing Announcement”) in relation to the placing of a maximum of 2,036,588,000 shares of the Company (the “Placing”). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Placing Announcement.
The Board is pleased to announce that the completion of the Placing took place on 22 December 2021 (the “Completion”). A total of 2,036,588,000 Shares, representing approximately 7.52% of the total issued share capital of the Company as enlarged by the allotment and issue of the Placing shares, have been placed to no less than six Placees who, to the best of the knowledge, information and belief of the Directors, are Independent Third Parites.
As disclosed in the Placing Announcement, the net proceeds (after deducting all applicable costs, fees, expenses and commission of the Placing) from the Placing is expected to be approximately HK$4,994 million. The Company intends to use 8.9% of such net proceeds (or approximately HK$445 million) for general working capital purpose and 91.1% of such net proceeds (or approximately HK$4,549 million) for capital expenditure. Of the net proceeds allocated for capital expenditure, 39.6% and 51.5% of the total net proceeds, representing approximately HK$1,976 million and HK$2,573 million will be used for the FBR based granular silicon and ancillary silicon metal powder project in the Inner Mongolia and the FBR based granular silicon project of Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd., respectively.
SHAREHOLING STRUCTURE UPON COMPLETION OF THE PLACING
The number of total issued Shares of the Company has increased from 25,062,422,448 Shares to 27,099,010,448 Shares as a result of the issue of the Placing Shares. The share capital of the Company immediately following the completion of the Placing is as follows:
Note:
(1) An aggregate of 6,370,388,156 Shares are collectively held by Highexcel Investments Limited, Happy Genius Holdings Limited and Get Famous Investments Limited, which are wholly-owned by Golden Concord Group Limited, which in turn is wholly-owned by Asia Pacific Energy Holdings Limited. Asia Pacific Energy Holdings Limited is in turn wholly-owned by Asia Pacific Energy Fund Limited. Asia Pacific Energy Fund Limited is ultimately held under a discretionary trust with Credit Suisse Trust Limited as trustee for Mr. Zhu Gongshan and his family (including Mr. Zhu Yufeng, a Director and the son of Mr. Zhu Gongshan) as beneficiaries.
