PERTH, AUSTRALIA: 18 November 2013 – Leading peptide drug discovery company Phylogica Ltd (ASX:PYC, XETRA:PH7) provides the following update in relation to the Recapitalisation announcement made on 11 November 2013.
Rights Issue
The underwriter has agreed sub-underwriting arrangements for $1.5 million of any shortfall under the proposed rights issue and documentation is expected to be signed today.
A broker that is part of the sub-underwriting syndicate has consented to be nominated to sell the entitlements of shareholders outside Australia and New Zealand. An application to the Australian Securities and Investments Commission (ASIC) to consent to this appointment is also expected to be lodged today. ASIC consent to the appointment is required prior to the rights issue.
Accordingly, the planned commencement date of the rights issue has been deferred and the rights issue documentation is now expected to be lodged with ASX before the market opens on Monday 25 November 2013, so that the issue timetable will commence on that date.
For further information please download PDF below:
