Completion of Share Placement and Cleansing Notice
Sydney, Aug 11, 2017 AEST (ABN Newswire) - The Board of Traditional Therapy Clinics Limited (ASX:TTC) (Company) is pleased to announce the successful completion of the placement to sophisticated investors today to place a total of 5,700,000 ordinary shares in the Company for a total amount of $1,995,000 at a price of $0.35 per share (Placement).
The shares issued under the Placement rank equally with existing shares and are not subject to any voluntary escrow. The 5,700,000 shares are issued without shareholder approval and within the Company's placement capacity pursuant to ASX listing rule 7.1. The process the proceeds from the Placement will be used for working capital purposes.
To view the Cleansing Notice, please visit:
About Traditional Therapy Clinics Ltd
Traditional Therapy Clinics Limited (ASX:TTC) is a franchisor and the owner of one of the largest chains (by number of clinics) of traditional therapeutic health and wellness clinics in China. It currently has 343 franchised clinics and 35 owned clinics in operation. It is a well established business with a strong growth profile, employing a repeatable and scalable business model.
TTC has a highly recognised and respected brand, having received the prestigious Chinese Well-Known Trademark designation from the State Administration for Industry and Commerce. It operates within a strongly regulated industry sector of significant scale, which offers opportunity for further growth.
TTC is an ASX listed company employing around 1,000 staff across 27 of the 33 administrative divisions in China. More information is available at https://www.ttc-ltd.com/