Midas is going to Cheong UP soon!!!  but, Genting is still heading south .... 

# Midas Holdings posts 15% rise in FY09 net profit to $37.5m   :  )  Hahaha
 
                   VS

# Genting posts more than 100% rise in FY09 net loss -$227.5m   : (   omg

MIDAS HOLDINGS LIMITED

(Company Registration No. 200009758W)

PROPOSED SECONDARY LISTING ON THE MAIN BOARD OF THE STOCK EXCHANGE

OF HONG KONG LIMITED

Not for release, distribution or publication, into or in, directly or indirectly, the United

States, Australia, Canada or Japan

1. The proposed secondary listing on the Main Board of The Stock Exchange of

Hong Kong Limited, and its rationale and benefits

The board of directors (the “

announcement dated 22 September 2009 and wishes to announce that it intends to seek a

secondary listing (the "

Main Board of The Stock Exchange of Hong Kong Limited (the "

therewith, undertake a global offering (the “

capital of the Company.

The Board believes that the Proposed HK Listing and the Global Offering will help strengthen

the growth prospects of the Company and therefore maximise the value of the Company and

its Shares. The Board is of the view that the Proposed HK Listing and the Global Offering will:Board”) of Midas Holdings Limited (the "Company") refers to theProposed HK Listing") of its ordinary shares (the "Shares") on theSEHK") and in conjunctionGlobal Offering”) of new ordinary shares in the

·

plans;provide the Company with additional capital for its future expansion and other business

·

wider range of institutional and retail investors;provide the Company with an additional channel to raise capital and gain access to a

·

local retail investors in Hong Kong can participate in the equity of the Company; andexpand and diversify the Company's investor base as additional institutional investors and

·

Company's long-term growth and development as its operations are principally located in

the PRC.

2. enhance the Company's profile in the PRC and in Hong Kong, thereby benefitting theInformation on the Global Offering

The Company proposes to allot and issue up to 300,000,000 new Shares (the "

Shares

Option (as defined below)). In connection with the Global Offering, the Company may grant

an over-allotment option (the "

(the "

Over-allotment Option is exercised in full, an aggregate of 340,000,000 New Shares will be

issued pursuant to the Global Offering.

The issue price of the New Shares (the “

the underwriters of the Global Offering (the "

commencement of the Global Offering. The Company will be seeking the approval of its

shareholders (the “

discount of not more than 10% to the market price (the "

Shares on the Singapore Exchange Securities Trading Limited (the "

SGX-ST Market Price is either (i) the weighted average price for trades of the Shares done on

the SGX-ST for the full market day on which the SGX-ST is open for securities trading (the

"

Shares done on the SGX-ST for the full Market Day on which the Offer Price is determined,

as may be determined between the Company and the Underwriters. If trading in the Shares is

not available for a full Market Day as at the time the Offer Price is determined, or if the Offer

Price is determined before trading on SGX-ST commences, the SGX-ST Market Price shall

be based on either (i) the weighted average price for trades in Shares executed on the Market

Day immediately preceding the date on which the Shares were traded on the SGX-ST up to

the time the Offer Price is determined; or (ii) the closing price of the Shares on the Market

Day immediately preceding the date the Offer Price is determined, as the case may be.

If, for any reason, the Underwriters and the Company are unable to reach agreement on the

Offer Price, the Global Offering will not proceed and will lapse. In determining the Offer Price,

the Company and the Underwriters will take into consideration, among others, the demand for

the Global Offering, the prevailing price of the Shares on the SGX-ST and the overall market

sentiment.Offer") pursuant to the Global Offering (subject to adjustment and the Over-allotmentOver-allotment Option") of 40,000,000 additional new SharesAdditional Shares", together with the Offer Shares, the "New Shares. In the event theOffer Price”) will be determined by the Company andUnderwriters") closer to the date of theShareholders”) for issue of the New Shares at the Offer Price to be at aSGX-ST Market Price") of theSGX-ST"), where theMarket Day") on which the Offer Price is determined; or (ii) the closing price for trades of the