Vallianz Holdings completes issuance of $32.5 capital securities and $22m options

Raises company's equity to $129.2m.

Vallianz Holdings Limited (Vallianz) has announced the completion in the issuance of redeemable convertible capital securities in Vallianz to Rawabi for a principal amount of US$35.2 million, in conjunction with the issuance of non-transferable share options to Swiber, which will raise potential total gross proceeds of US$22.0 million when fully exercised. The full exercise of the Option and issuance of the Capital Securities will boost Vallianz’s equity by US$57.2 million.

This will also raise Vallianz’s equity, which stands at US$72.0 million as at December 31, 2013 to US$129.2 million (or approximately S$163.1 million), which is approximately equivalent to the market capitalisation of the Company as of February 14, 2014.This also signifies the successful conclusion of the subscription agreement entered into on 2 October 2013 by Vallianz with Rawabi and Swiber.

Commented Mr. Darren Yeo, Executive Director and Chief Executive Officer of Vallianz, “This is a corporate milestone for the Company as it takes our business relationship with key stakeholders deeper, further aligning the business interests of Vallianz and our stakeholders. It is also a demonstration of the industry’s firm confidence in Vallianz’s growth potential. Not only does it fortify the business synergies between the Company and important stakeholders, it also provides the opportune catalyst for the Company to embark on its next platform of growth.”