COMPLETION OF SHARE PLACEMENT
Star Striker Limited (“Star Striker” or the “Company”) is pleased to announce the completion of the Non-underwritten Placement (“Placement”) of up to 64,994,155 fully paid ordinary shares at a price of $0.0125 per share to raise up to approximately $812,427 on 4 November 2015.
This placement was, subject to the Company’s ability to use its placement capacity under ASX Listing Rule 7.1A. If at the time for issue of the 64,994,155 shares, the Company is unable to utilize ASX Listing Rule 7.1A for that issue due to the issue price not satisfying the minimum pricing condition in ASX Listing Rule 7.1A.3, then the issue of those shares will be subject to Shareholder approval at the Company’s forthcoming General Meeting of Shareholders.
In accordance with the requirements of Listing Rule 3.10.5A, the following information is provided:
(a) The dilution to existing shareholders as a result of:
the issue under Listing Rule 7.1 is Nil%
the issue under Listing Rule 7.1A is 8.69%;
and this total placement is 8.69%
The percentage of pre-placement security holders who did not participate in the offer is 99.66%.
The percentage of participants in the placement who were not previously security holders is 0.34%.
(b) The issue of the placement shares was made as it was considered a more efficient mechanism of raising money for the Company. The placement did not expose the Company to market volatility that might have been experienced over a more protracted capital raising process.
(c) There were no underwriting arrangements.
(d) The fees incurred by the Company in connection with the issue were approximately $48,746 (excluding GST) representing 6% of funds raised.
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