VCI Global To Facilitate Capital Raising Of No Less Than $210M For Magnum Mining & Exploration
VCI Global To Facilitate Capital Raising Of No Less Than $210M For Magnum Mining & Exploration
The agreement with VCCL and 2x1.Digital Private Limited ("2x1.Digital") is to undertake a capital raising of no less than US$210 million ("Capital Raising") to advance Magnum's Green Pig Iron Project (the "Project") in Saudi Arabia. Magnum is to receive no less than US$10 million as working capital, and the remaining amount, no less than US$200 million, is to be provided as 50% of the capital for the Midmetal HIsmelt plant. The remaining 50% funding for the Midmetal HIsmelt plant will be matched by the Saudi Investment Development Fund ("SIDF"). Investors participating in the Capital Raising will receive fully paid ordinary shares in Midmetal in proportion to their participation in the Capital Raising up to a total aggregate interest in Midmetal of 50%; and, subject to Magnum's shareholder approval, fully paid ordinary shares in Magnum in proportion to their participation in the Capital Raising up to a total aggregate interest in Magnum of 19.99%.
与VCCL和2x1.Digital Private Limited（“2x1.digital”）达成的协议将进行不少于2.1亿美元的融资（“融资”），以推进玛格南在沙特阿拉伯的绿色生铁项目（“项目”）。玛格南将获得不少于1,000万美元的营运资金，其余不少于2亿美元，将作为Midmetal HisMelt工厂资本的50％提供。Midmetal HisMelt工厂剩余的50％资金将由沙特投资发展基金（“SIDF”）配套。参与筹资的投资者将获得与其参与融资成比例的全额支付的Midmetal普通股，Midmetal的总权益不超过50％；而且，经玛格南股东批准，按参与筹资的比例全额支付的玛格南普通股，最高可达19.99％的Magnum总权益。
