October 18, 2016 / 12:57 PM / 10 months ago

BRIEF-Digital Domain Holdings entered into subscription agreement with Paul E. Jacobs Trust

Oct 18 (Reuters) - Digital Domain Holdings Ltd :

* Digital domain - pursuant to agreement, co agreed to allot and issue 70 million shares to subscriber at subscription price of hk$0.55 per subscription share

* Digital domain holdings ltd- company entered into subscription agreement with subscriber in relation to subscription

* Digital domain holdings ltd- subscriber being paul e. Jacobs trust

* Digital domain holdings ltd- gross proceeds and net proceeds from subscription will be hk$38.5 million and approximately hk$38.4 million respectively

* Digital domain holdings ltd- proceeds intended to be applied towards media entertainment segment and as general working capital purposes of group

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