Anchor Resources undertakes private placement to repay bond investors

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SINGAPORE (April 9): Anchor Resources, the Malaysian goldmine operator, is selling 143.8 million new shares at 1.53 cents each to 18 investors in a private placement to raise S$2.15 million.

The issue price represents a discount of 10% to Anchor’s volume weighted average price of 1.7 cents for trades done on April 3, the full market day before its trading halt on April 4.

Of the placement net proceeds of S$2.15 million, S$762,500 will be used to repay the full amount due on May 3 under an repayment and subscription agreement entered into on Dec 11, 2018 between the company and first tranche investors Lim Chiau Woei, Tan Beng Kiat and Koh Kai Jok... (Click here to read the full story)