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February 04, 2021
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SINGAPORE, Feb 3, 2021 - mm2 Asia Ltd. ( mm2 Asia , mm2全亚影视娱乐有限公司 , the Company , or collectively with its subsidiaries, the Group ) has received an in-principle approval from the Singapore Exchange (SGX) on Tuesday Feb 2, 2021, for its proposed rights issue. The Board of Directors have passed a resolution to call for an extraordinary general meeting to approve the proposed rights issue.
The proposal involves the issuance of one (1) Rights Share for every one (1) existing share held, at $0.047 for each Rights Share. Upon the completion of the rights issue, the Company will receive net proceeds of $52.15 million, which will be utilised to pay off the medium-term note due on April 27, 2021 and for general working capital and operations of the Group.