The company had previously proposed the subscription of 230,769,231 new ordinary shares at an issue price of 0.65 cents per share to raise gross proceeds of $1,500,000 from Zhu Hua, managing director and 99.9% owner of Beijing Zhenghe Antai Investment Management.
Biolidics Limited (SGX:8YY
) has entered into a new subscription agreement for the allotment of 98,500,000 new ordinary shares at a subscription price of 1.19 cents per share, amounting to an aggregate subscription of $1,172,150.
The announcement comes after the company failed to obtain shareholder approval for its previous subscription agreement at its extraordinary general meeting (EGM) on Nov 21.
