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VML
14/02/2013 14:30
GENERAL
REL: 1430 HRS VMob Group Limited
GENERAL: VML: CAPITAL RAISING
14 February 2013
BY E-MAIL: [email protected]
NZX Limited
Wellington
CAPITAL RAISING
VMob Group Limited ("VMob") announced a capital raising initiative on 7
September 2012 (the "Capital Raising") with a view to raising new capital to
be applied towards accelerating the implementation of VMob's business plan
and to assist VMob with funding its future working capital requirements.
VMob raised NZ$267,143 of new capital through private placements by issuing
10,685,714 new fully paid ordinary shares at 2.5 cents per share, as notified
to NZX on 1 October 2012, as part of the Capital Raising (the "Initial
Investment").
VMob has, today, raised a further NZ$565,625 of new capital through private
placements to eligible investors by issuing 45,250,000 new fully paid
ordinary shares at 1.25 cents per share.
This brings the total under the Capital Raising to NZ$832,768.
VMob has also issued a further 5,797,653 new fully paid ordinary shares at
1.25 cents per share to certain key management, representing NZ$72,471 in
lieu of fees owed.
All investors and key management who purchased or were issued shares at the
1.25 cents per share offer price have the contractual right to:
o prevent the holder's holding from being diluted by a subsequent issue of
shares at a lower price (a "Revised Price") so that, should VMob undertake a
subsequent issue of shares at a Revised Price, VMob will issue additional
ordinary shares to the holder in an amount sufficient to ensure that the
effective issue price per share paid by the holder would be the same as the
Revised Price; and
o at their option, at any time within 12 months from settlement, subscribe
for additional ordinary fully paid shares at 1.25 cents per share up to the
amount of their original investment.
END
End CA:00232921 For:VML Type:GENERAL Time:2013-02-14 14:30:12
