Ocean Shores shareholder to place 17.7 mln shrs and to subscribe 33 mln

Ocean Shores Group Ltd. (0764) said its major shareholder Classical Statute Ltd, a fully owned subsidiary of China Star Entertainment Ltd (0326), has entered into a conditional agreement to place 17.7 million shares in Ocean Shores to an independent third party at HKD1.00 per share. Meanwhile, Classical Statute has entered into a conditional subscription agreement with Ocean Shores to subscribe for 33 million new shares at HKD1.00 per new share.

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