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Allied Healthcare Group Ltd Announces Fully Underwritten Rights Issue To Raise $10 Million

Sunday, 22 Sep 2013 07:59pm EDT 

Allied Healthcare Group Ltd announced a fully underwritten non-renounceable rights issue to raise approximately $10 million (Rights Issue). The funds raised will be used to launch CardioCel in Europe, scale up manufacturing and progression of US approval for CardioCel as well as progressing the therapeutic vaccine programs led by Professor Ian Frazer. Pursuant to the Rights Issue, the Company will offer approximately 208,637,705 new shares to shareholders with a registered address in Australia, New Zealand, Singapore or Hong Kong who are registered holder of shares on the record date (Eligible Shareholders), on a one for five basis, at an issue price of $0.05. This capital raising will provide the Company with the capital required to make a impact on the Company's revenue as well as progress the therapeutic vaccine programs forward. RBS Morgans has fully underwritten the Rights Issue. An entity associated with the Company's major shareholder, The Metal Group Pty Ltd, has sub-underwritten 50% of the Rights Issue. 

Company Quote

0.0050 +4.76%
19 Dec 2014