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TMCNet:  Carriernet Global to raise $9.11 million through private placement

[February 26, 2013]

Carriernet Global to raise $9.11 million through private placement

Feb 26, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Carriernet Global, Ltd. (formerly ArianeCorp Limited), a Singapore-based provider of telephony services ranging from prepaid communication services to wholesale voice traffic, has agreed to raise SGD11.27 million ($9.11 million) through a private placement.

As a part of the agreement, Carriernet has agreed to issue 1,025 million new ordinary shares, representing an additional 20.4% stake, to Tres Maria Capital, Ltd. at a price of SGD0.011 ($0.008) per share.

Tres Maria Capital is a wholly-owned investment vehicle for Sugiono Wiyono Sugialam.

Following the completion, Tres Maria Capital will increase its stake to approximately 53.72% in Carriernet.

Deal Value (US$ Million) 9.11 Deal Type Private Placement Sub-Category None Deal Status Announced: 2013-02-25 Deal Participants Target (Company) CarrierNet Global, Ltd. (formerly ArianeCorp Limited) Acquirer (Company) Tres Maria Capital, Ltd.

Deal Rationale Carriernet Global will use the proceeds for repayment of loans to financial institutions and also as working capital purposes for the expansion of its business of the distribution of mobile communication devices.

% Acquisition 20.4% No. Shares Issued 1025000000

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