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August 13, 2014
09:49 EDTEGTEntertainment Gaming announces proposed rights offering
Entertainment Gaming Asia announced that it proposes to conduct an offering of subscription rights to purchase shares of its common stock at a price of 54c per share. On August 13, the company filed with the U.S. SEC a Registration Statement on Form S-1 with respect to the offering. The rights offering will be made to the holders of record of the company's common stock as of a date to be determined, but which is expected to be shortly before the date the Registration Statement is declared effective by the SEC. Each shareholder as of the record date will receive 0.92278 non-transferable subscription rights for each share of common stock held by the shareholder as of the record date. Each subscription right will allow its holder to purchase one share of common stock of the company, at a price of 54c per share, over the 30-day period following the date of distribution. The company intends to apply the proceeds from the rights offering towards the development of future casino and gaming club projects, expanding its slot participation operations and general working capital for its gaming products division.
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