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Issuance of Shares and Unlisted Warrants to GCL Technology Chairman Zhu Gongshan was Formally Approved at HG Semiconductor’s Extraordinary General Meeting

indie
6 minutes

HONG KONG, Dec 13, 2022 - (ACN Newswire via SEAPRWire.com) - HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group"; stock code: 6908. HK) announced that the resolution of the extraordinary general meeting was duly passed in relation to the investment agreement dated on 4 August 2022 (the "Investment Agreement"), which the Group entered into with Mr. Zhu Gongshan ("Mr. Zhu"), the Founder, Chairman and Executive Director of GCL Technology Holdings Limited (Stock code: 3800.HK; "GCL"), signifying that Mr. Zhu has officially become a major shareholder of the Group. Pursuant to the Investment Agreement, the Group has agreed to allot and issue, and Mr. Zhu has agreed to subscribe for 60 million subscription shares ("Shares Subscription") and 60 million warrants ("Warrants Subscription"). In view that the due diligence examinations have been completed, and that Mr. Zhu is reasonably satisfied with the results of the examinations, he will participate in the Shares Subscription and Warrants Subscription through his designated beneficially owned entity Profit Act Limited. The subscription shares and warrant shares shall be subject to a lock-up period of 18...

ACN Newswire
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HG Semiconductor and GCL Technology Founder Mr Zhu Gongshan Officially Enters Shares Subscription and Warrants Subscription Agreements

indie
6 minutes

HONG KONG, Sep 30, 2022 - (ACN Newswire via SEAPRWire.com) - HG Semiconductor Ltd (6908.HK) is pleased to announce that it has officially entered into a subscription agreement with Mr. Zhu Gongshan, the Founder, Chairman and Executive Director of GCL Technology Holdings Ltd (GCL; 3800.HK) regarding the Investment Agreement on 4 August 2022.Pursuant to the Investment Agreement, the Group has agreed to issue, and Mr. Zhu has agreed to 60 million Shares Subscription and 60 million Warrants Subscription. In view that the due diligence examinations have been completed, and that Mr. Zhu is reasonably satisfied with the results of the examinations, he will participate in the Shares Subscription and Warrants Subscription through his designated beneficially owned entity Profit Act Limited. Upon completion of the Shares and Warrants Subscription, Mr. Zhu will become the major strategic shareholder of the Group. As at 30 September 2022, the Group has 573,019,000 shares in issue. Pursuant to the Share Subscription Agreement, the 60 million subscription shares represent approximately 10.47% of the existing issued share capital of the Group. After the deduction of relevant costs and expenses, th...

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HG Semiconductor Enters into Strategic Cooperation Framework Agreement with the Family Trust of GCL Technology Founder Mr. Zhu Gongshan

indie
4 minutes

HONG KONG, Sep 8, 2022 - (ACN Newswire via SEAPRWire.com) - HG Semiconductor Limited ("HG Semiconductor", together with its subsidiaries, "the Group", Stock Code: 6908.HK) is pleased to announce that the Group entered into a strategic cooperation framework agreement (the "Strategic Cooperation Framework Agreement") on 7 September 2022 with Golden Concord Group Limited ("Golden Concord Group"), a company ultimately held under a discretionary trust (the "Investor Family Trust") with Founder, Chairman and Executive Director of GCL Technology Holdings Limited ("GCL", Stock Code: 3800.HK) Mr. Zhu Gongshan (the "Investor" or "Mr. Zhu") and his family members as beneficiaries. Pursuant to the Strategic Cooperation Framework Agreement, the Group and Golden Concord Group (collectively, the "Parties") intend to initiate close cooperation in application of gallium nitride ("GaN") power chips in the field of new energy, including (i) Golden Concord Group or its subsidiaries will be involved in equity of the Group or its subsidiaries to establish in-depth cooperation; (ii) the Parties will establish a domestic new energy joint venture (the "JV Company") to tap into application of GaN chips in t...

SeaPRwire

Concord International Hospital allowed to treat patients again after lapses are addressed

aseanpr
2 minutes

SINGAPORE - Concord International Hospital has been allowed to resume treating patients after a ban imposed for major lapses was lifted. The private hospital in Adam Road was ordered to cease all healthcare services from Dec 19 last year, when life-saving and patient use supplies were unavailable or poorly maintained in critical areas of the hospital, such as the intensive care unit and operating theatre, the Ministry of Health (MOH) said in a statement on Thursday (July 15). There was a lack of infection and quality control processes on its premises as well, affecting patient safety, the statement added. MOH said the hospital had been allowed to treat patients again from June 16, after reviews and inspections to see if it met licensing requirements under the Private Hospitals and Medical Clinics (PHMC) Act. "This includes having the necessary equipment and facilities at all clinical areas, quality control checks for clinical laboratory facilities, preventive maintenance performed for all equipment and proper infection prevention and control practices in place," said MOH. Healthcare facilities which fail to comply with the PHMC Act could face a fine of up to $20,000 and have their ...