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2004-3-2 09:05:00 a.m. HKT, XFNA
Hong Kong's IMI proposes 68.72-72.27 mln rights share issue, name change
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HONG KONG (AFX-ASIA) - IMI Global Holdings Ltd (585.HK), which produces
and licenses three-dimensional computer graphics animation, proposes to issue
68.92-72.27 mln rights shares at 1.08 hkd each, on the basis of one rights
share for every two existing shares.
In a statement, it said net proceeds are expected to b about 71.0-74.5
mln hkd, of which 8 mln will be used to establish a international marketing
team for the group's computer animation products and services in the United
States.
About 30 mln will be used for the initial-stage expansion of the group's
production capability of computer graphics animated feature films.
The balance will be reserved for general working purposes.
Separately, the company said it proposes to change its name to Imagi
International Holdings Ltd.
The said resolutions are subject to shareholders' approval at a special
meeting on or around March 5.
(1 usd = 7.8 hkd)
susanna.tai@afxasia.com
st/ds
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