Title: Substantial Shareholder Injects $500,000 into Beverly JCG Ltd. to Fuel Growth
Key Points:
Beverly JCG Ltd. has entered into a subscription agreement with its substantial shareholder, Mark Phillip Jones, to issue 57,471,264 new ordinary shares at $0.0087 per share, raising $500,000 in gross proceeds.
The new shares represent approximately 7.59% of the company’s existing issued share capital and 7.05% of the enlarged share capital.
The subscription price represents a 9.38% discount to the volume-weighted average price of $0.0096 per share on the last full trading day.
The proceeds will be used to fund the growth, development, and expansion of the company’s existing medical aesthetics and healthcare business, as well as for working capital purposes.
The subscription is subject to shareholders’ approval at an extraordinary general meeting, and the Subscriber and his associates will be required to abstain from voting.
Potentially Price-Sensitive Information:
The successful completion of the subscription will strengthen the company’s financial position and capital base, which could have a positive impact on the share price.
The use of proceeds for business expansion and growth could potentially improve the company’s financial performance and future prospects, which may also be reflected in the share price.
Article:
In a move to bolster its financial position and support its growth plans, Beverly JCG Ltd. has announced that it has entered into a subscription agreement with its substantial shareholder, Mark Phillip Jones, to issue 57,471,264 new ordinary shares at $0.0087 per share.
The new shares, which represent approximately 7.59% of the company’s existing issued share capital and 7.05% of the enlarged share capital, will raise gross proceeds of $500,000 for the company. The subscription price represents a 9.38% discount to the volume-weighted average price of $0.0096 per share on the last full trading day.
According to the company, the proceeds from the subscription will be used to fund the growth, development, and expansion of its existing medical aesthetics and healthcare business, as well as for working capital purposes. This strategic move is expected to strengthen the company’s financial position and capital base, allowing it to capitalize on new opportunities and drive its business forward.
The subscription is subject to shareholders’ approval at an extraordinary general meeting, which will be convened by the company in due course. The Subscriber and his associates will be required to abstain from voting on the resolutions related to the subscription.
This announcement comes at a crucial time for Beverly JCG Ltd., as the company seeks to navigate the challenges and capitalize on the opportunities presented by the evolving healthcare and medical aesthetics landscape. The successful completion of the subscription, if approved by shareholders, could have a positive impact on the company’s share price, as it demonstrates the confidence of a substantial shareholder in the company’s growth potential.
Investors are advised to exercise caution when trading the company’s shares and to consult their financial advisors before making any investment decisions.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. The information provided is based on publicly available data and may be subject to change. Investors should conduct their own due diligence and consult with their financial advisors before making any investment decisions.
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