rview
Issuer
Longtable Group Limited – ASX Code: LON (“Longtable” or the “Company”)
Purpose
- The purpose of this capital raising is to fund the acquisition of the remaining 52% of Maggie Beer Products Pty Ltd that the Company does not currently own and working capital for the Longtable Group business; and
- The Bell Potter network is being invited to bid for sub-underwriting of the entitlements offer
Deal Overview
The Transaction is as follows:
- A Placement to raise up to $2.1m via the issue of approximately 10.9m shares in accordance with ASX Listing Rule 7.1. (‘Placement’)
- A fully underwritten, non-renounceable, entitlements offer (‘Entitlements offer’) on a 1 for 1.95 basis to all eligible shareholders to raise approximately $13.7m via the issue of approximately 68.5m shares
- As part of the consideration for the acquisition, the Company will be issuing approximately 5.0m shares with a valuation of $1.0m to the vendor as script consideration. In addition, the Company will issue a convertible note worth $0.5m which will provide the vendor the option to convert to 2.5m shares 12 months post settlement of acquisition.
Sole Lead Manager & Bookrunner
Bell Potter Securities Limited (“Bell Potter”)
Offer Statistics
Key Offer Statistics
Offer Price
$0.20
Total number of existing shares on issue prior to completion of the Offer
122,722,043
New Shares available under the Placement offer
10,908,306
Gross proceeds from the Placement offer
$2,181,661
New Shares available from the Entitlements offer
68,528,384
Gross proceeds from the Entitlements Offer
$13,705,677
Vendor Scrip Consideration
5,000,000
Vendor Scrip Valuation
$1,000,000
Total number of shares on issue post the completion of the Offer (including vendor scrip consideration)
207,158,733
Vendor convertible note consideration1
$500,000
Indicative Market Capitalisation at Offer Price post offer (at offer price)
$41,431,746
Note:
- Convertible Note may be converted 12 months post issuance and may result in the issuance of 2.5m shares at the ‘Offer Price’ to the Vendor
- 2,142,857 fully paid ordinary shares escrowed for 12 months from 1/08/2018 and 2,142,857 fully paid ordinary shares escrowed for 24 months from 1/08/2018
- 7.60 million options have a variety of exercise prices and dates.
- Performance rights on issue – 600,000
Bidding
Eligible investors are invited ONLY to bid for sub-underwriting of the Entitlement Offer
Sub-underwriting Fee
Eligible investors will be paid a fee equal to 1.0% of the committed sub-underwriting amount, governed by the terms as set out in the sub-underwriting agreement
Bids Close
12 Noon, Friday, 1st of March, 2019
Indicative Timetable – the Company and Bell Potter reserve the right to amend the timetable
Trading Halt
10:00am, Thursday, 28 February 2019
Bids Due
12pm, Friday, 1st of March, 2019
Allocations Advised
2pm, Friday, 1st of March, 2019
Signed Confirmation Letters Due to the Lead Manager
5pm, Friday, Friday, 1st of March, 2019
Resumption of Trading
10am, Monday, 4th of March 2019
Announcement of Non-Renounceable Rights Isssue and application for quotation
10am, Monday, 4th of March 2019
Trade date for Placement stock
Wednesday, 6th of March, 2019
Settlement date for Placement stock
Friday, 8th of March, 2019
Allotment of Placement stock
Monday, 11th of March, 2019
Shares quoted on an ‘ex’ basis
Tuesday, 12th of March, 2019
Record date for entitlements offer
Wednesday, 13th of March, 2019
Offer document and forms issued to eligible sharehokders
Thursday, 14th of March, 2019
Entitlements offer period
Thursday, 14th of March – Friday,22nd of March, 2019
Notification of shortfall sub-underwriting allocations
Monday, 25th of March, 2019
Issue of shares from Entitlements offer
Friday, 29th of March, 2019
New shares commence trading on a normal settlement basis
Monday, 1st of April, 2019
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Last
6.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $23.02M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5264 | 6.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.6¢ | 34439 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5264 | 0.061 |
1 | 200000 | 0.060 |
1 | 13363 | 0.056 |
2 | 26231 | 0.055 |
1 | 92000 | 0.054 |
Price($) | Vol. | No. |
---|---|---|
0.066 | 34439 | 1 |
0.067 | 200000 | 1 |
0.069 | 84950 | 1 |
0.070 | 73000 | 3 |
0.071 | 35000 | 1 |
Last trade - 11.04am 15/08/2024 (20 minute delay) ? |
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