CUT & PASTED FROM ANN:
Placement to Sophisticated and Professional Investors
OBJ Limited (ASX: OBJ) (Company) is pleased to announce that it has placed approximately 123
million fully paid ordinary shares at 1.5 cents per share (New Shares) to raise approximately
$1.85m (before costs) to sophisticated and professional investors (Placement).
Subscribers of New Shares will also receive two (2) new options to acquire fully paid ordinary
shares in the Company for every five (5) New Shares subscribed for and allotted at no additional
cost (New Attaching Options), resulting in approximately 49 million New Attaching Options being
issued as well. The New Attaching Options are exercisable at $0.01 on or before 31 December
2014 and will (subject to satisfying the requirements for quotation) be traded under the existing
ASX security code OBJOA, and be on the same terms and conditions as the Company’s existing
quoted options expiring on 31 December 2014.
Baker Young Stockbrokers Limited (Baker Young) acted as Lead Manager to the Placement. The
Placement was heavily oversubscribed and the Company welcomes new institutional
shareholders to its register.
The funds raised from the Placement will be used to progress OBJ’s various programs including
the Company’s own Bodyguard program and to ensure the Company is well capitalised for the
advancement of those programs. The Company is excited by its Bodyguard project and views the
additional funds as being crucial to the ongoing development and commercialisation of
Bodyguard.
The finalisation of this Placement concludes the Company’s present capital raising initiatives and
ensures the Company is well positioned with all its various programs to maximise shareholder
value.
The Placement was made without disclosure to sophisticated and professional investors under
section 708 of the Corporations Act 2001 (Cth). 49,333,333 New Attaching Options were issued
under the Company’s 15% placement capacity under Listing Rule 7.1, and 123,333,333 New
Shares were issued under the Company’s additional 10% placement capacity under Listing Rule
7.1A, which was approved by shareholders at the Company’s Annual General Meeting held on 26
November 2012.
In accordance with the requirements of Listing Rule 3.10.5A, the following information is
provided:
• The dilution to existing shareholders of the Company, as a result of the issue of the New
Shares was as follows:
ABN 72 056 482 636
284 Oxford Street, Leederville 6007 Perth, Western Australia
Telephone +61 8 9443 3011 Facsimile +61 8 9443 9960
www.obj.com.au
o under Listing Rule 7.1, the number of New Attaching Options was 49,333,333,
resulting in a dilution to existing shareholders of 3.7%; and
o under Listing Rule 7.1A, the number of New Shares issued was 123,333,333, resulting
in a dilution to existing shareholders of 9.4%.
Accordingly, the total dilution to existing shareholders as a result of the Placement was
13.1%.
Further details of the approximate percentage of the issued capital post the 7.1 and 7.1A
placement held by the pre-placement security holders and new security holders are as
follows:
Pre-placement security holders who did not participate
in the 7.1A placement 88.3%
Pre-placement security holders who did participate in
the 7.1A placement 7.7%
Participants in the 7.1A placement who were not
previously security holders 4%
• The Company issued the New Shares and New Attaching Options as a placement under
Listing Rule 7.1 and Listing Rule 7.1A and not as (or in addition to) a pro rata issue to all
shareholders because it was considered to be the most efficient and expedient method for
raising the funds to achieve its stated objectives. The Placement also allowed the Company
to introduce a number of new institutional investors to its register. The Company recently
conducted a pro-rata issue to all existing shareholders which closed on 29 May 2013.
• There were no underwriting arrangements in place for the Placement.
• The fees for Baker Young for its role as Lead Manager were 1% and Broker Handling Fees
payable to Baker Young and Participating Brokers were 5%.
- ENDS -
For more information:
OBJ Ltd:
Mr Glyn Denison
Director
Telephone +618 9443 3011
Email [email protected]
Web www.obj.com.au
Baker Young Stockbrokers:
Mr Dirk van Dissel
Associate Director
Telephone +618 8236 8888
Email [email protected]
Web www.bakeryoung.com.au
- Forums
- ASX - By Stock
- WFL
- obj placement
obj placement
-
- There are more pages in this discussion • 82 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add WFL (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.478M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
WFL (ASX) Chart |
Day chart unavailable