Leading technology communications company, MGM Wireless Limited (ASX:MWR) (“MGM” or “the Company”) is pleased to announce that the Company will undertake a Share Purchase Plan (SPP), that will offer eligible shareholders the right to apply for up to $30,000 of New Shares at an issue price of $0.1075 (10.75 cents) per share (Issue Price). The Issue Price represents:
• a 23.2% discount to the last traded price of MGM shares on 22 May 2020, being the closing price before the Company’s shares were placed in a trading halt and subsequent suspension at the request of the Company; and
• a 10.0% discount to the volume weighted average market price of MGM shares over the last five days on which sales of shares were recorded on ASX immediately prior to the announcement of the SPP.
Eligible shareholders on MGM’s register at 5.00pm (ACST) on 4 June 2020, being the record date, are entitled to participate in the SPP.
For more information, download the attached PDF.
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