Annual Report 2011 - QuamIR

Notes to the Consolidated Financial StatementsFor the year ended 31 March 201143. Events After the Reporting PeriodSave as disclosed elsewhere in these consolidated financial statements, the Group had the followingmaterial events subsequent to the end of the reporting period:(a)On 27 April 2011, the Company announced that it had entered into the placing agreement dated27 April 2011 (the “2011 Placing Agreement”), with Mr. Leung and the placing agents in relationto a placing of 1,100,000,000 shares owned by Mr. Leung to independent third parties at a priceof HK$0.38 per share (“Placing Shares”). On the same day, the Company and Mr. Leung (assubscriber) has entered into an subscription agreement dated 27 April 2011 which Mr. Leunghas conditionally agreed to subscribe for the subscription shares (the number of which shall beequivalent to the Placing Shares) actually placed under the 2011 Placing Agreement at HK$0.38per subscription share.The completion of the 2011 Placing Agreement took place on 3 May 2011 in accordance with theterms and conditions of the 2011 Placing Agreement and an aggregate of 1,100,000,000 PlacingShares have been successfully placed to not less than six placees at HK$0.38 per share.On 9 May 2011, the Company announced that an aggregate of 1,100,000,000 shares of HK$0.01 eachin the capital of the Company were allotted and issued to Mr. Leung at HK$0.38 per subscriptionshare. The Company raised a sum of approximately HK$418 million and retained the net proceedsfor use of the future acquisitions and as general working capital of the Group.(b)On 11 May 2011, Sino Prosper Asphalt Investment Limited, a wholly-owned subsidiary of theCompany entered into a sale and purchase agreement with an independent third party to disposeof its office premise at a consideration of approximately HK$36,427,000.Sino Prosper State Gold Resources Holdings Limited122