The Company is pleased to announce that it has completed a fully underwritten placement to raise approximately $20 million, through the issue of 8,889,000 new ordinary shares at an issue price of $2.25 per share (the "Placement”).
The Placement issue price of $2.25 per share, represented a 5.5% discount to the closing price of the Company’s shares on 20 March 2017 (the last day in which the shares of the Company traded before launch of the Placement), and a 6.6% discount to the volume weighted average price for the 5 trading days prior to (and including) 20 March 2017.
The Placement is expected to settle on 28 March 2017 and shares will be allotted on the following business day, 29 March 2017.
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