Offer Details:
- The issue of approximately 45 million fully paid ordinary shares (“New Shares”) to institutional and sophisticated investors at an Offer Price of $0.22 per New Share (The “Placement”) to raise approximately $9.9 million (before costs of the Placement);
- Placement of up to 45.1M New Shares
- The Offer Price of $0.22 per New Share represents:
• 18.5% discount to the closing share price on 6 December 2016 of $0.27 per share
• 24.2% discount to the 5 day Volume Weighted Average Price up to and including 6 December 2016 of $0.29 per share; and
- 21.7% discount to the 15 day Volume Weighted Average Price up to and including 6 December 2016 of $0.281 per share.
- The Company intends to offer a Share Purchase Plan (“SPP”) to existing shareholders at the Offer Price
To view the Presentation please download PDF attached:
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