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LONDON - Aseana Properties Limited (LSE: ASPL), a Malaysian property developer listed on the London Stock Exchange (LON:LSEG)’s main market, has successfully passed a resolution at its General Meeting held today. The approval paves the way for the company to raise approximately $5.45 million through a subscription agreement with Neuchatel Investment Holdings Limited.
The resolution received votes representing 92.35% of the voting rights, excluding shares held in treasury. The final vote count was 88,563,140 votes in favor (59.99%) against 59,061,575 votes (40.01%), with no votes withheld. This majority approval allows the company to proceed with the subscription at an issue price of $0.08 per ordinary share.
This capital raise was initially detailed in an announcement on January 21, 2025. Aseana Properties has stated that any further announcements regarding the subscription will be made at the appropriate time.
The funds from this subscription are expected to provide the company with additional capital to further its property development endeavors. Aseana Properties has not disclosed specific details about how the raised funds will be utilized within its business operations.
Investors and market watchers can access the circular dated January 21, 2025, which provides more details on the subscription, on the company’s website. The information in this article is based on a press release statement from Aseana Properties Limited.
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