He is a recent example of an asx listed company which has raised fund via convertiable notes.
[Type text] 13 July 2009 Companies Announcements Office Australian Securities Exchange CONVERTIBLE NOTES ISSUE Aeris Environmental Ltd (ASX Code: AEI) is pleased to announce that it was significantly oversubscribed with applications for a capital raising via a private placement of 12.5 million convertible notes at 20 cents each which has raised $2,500,000 in additional working capital for the Company. The general terms of the issue are: • • • convertible notes with a conversion price of 20 cents per share and a maturity date of 31 December 2012; the Company may redeem the notes during set periods after 30 June 2011 and must redeem all convertible notes on the maturity date or upon an event of default; each convertible note will accrue interest at 10% per annum to be paid annually in arrears in cash or fully paid shares to be issued at the higher of 20 cents or the weighted average market price of the Company's shares at that time; and noteholders will receive one share option for every ten convertible notes they subscribe to. The share options have an exercise price of 20 cents and an expiry of 30 June 2012. • The issue of the convertible notes and options is within the Company’s existing 15% capacity under Listing Rule 7.1 and therefore shareholder approval will not be required before the issue of those securities. The convertible notes will be placed with professional and sophisticated investors pursuant to section 708 of the Corporations Act 2001. A number of current shareholders participated in the placement. A copy of Appendix 3B as required by ASX Listing Rule 3.10.3 will be submitted at the time of issue of the convertible notes and options. The funds raised in the issue will be applied to the rapid expansion of the Company’s international proprietary environmental protective coating and remediation, food safety and emerging water treatment businesses. It will facilitate the commercialisation of the Company’s proprietary biocidal polymer technology (plastics), which permanently resists the growth of micro‐organisms. [Type text] “The Company remains debt free and the additional funds will allow the Aeris team to continue to build on the strong momentum we had developed in the first half of 2008 before the global economic downturn,” Aeris CEO Huw Jones said, “and importantly, the success of this capital raising is a strong indication of the value that sophisticated investors are placing on Aeris’ current business activities and underlying intellectual property. It also positions Aeris to be in a positive position to develop each of its market opportunities and a number of potential strategic alliances.” Huw Jones Chief Executive Officer .
Download Original PDF Version Price at Announcement Code: AEI Price: $0.150 Current Price Code: AEI Price: $0.145
Share Price last 60 days Company Profile About Aeris Environmental
Profile: Aeris Environmental Ltd, formerly Aeris Technologies Ltd, is engaged in the research, development, commercialization and global distribution of the AerisGuard range of products. It also provides full service air-conditioning and refrigeration remediations to commercial customers, and site-specific water treatment remediations to industrial customers. It’s Cold Storage division specialises in the ...
Activities: Development and sale of products to eliminate biofilm growth in air conditioning systems and water treatment systems to enhance indoor air quality.
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