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Provider: Wright Reports
Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Thomson Reuters Stock Report

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Bluechiip Ltd Raises $2.55 Million Via Private Placement

Monday, 19 Aug 2013 09:50pm EDT 

Bluechiip Ltd announced that it has received binding commitments to subscribe for $2.55 million via a private placement with new and existing Australian and international institutions and sophisticated investors (Placement). The Placement was oversubscribed. The Placement will be conducted in two tranches as shareholder approval is required for Tranche 2 of the Placement. Tranche 1 will comprise approximately 10.2 million ordinary shares ($1.525 million) and 5.1 million attaching unlisted options utilising substantially all of the Company‚Äôs available placement. It is expected that the new securities to be issued under Tranche 1 of the Placement will be allotted on August 26, 2013. Tranche 2 will comprise the balance of the Placement which is subject to, and conditional upon, shareholder approval at a meeting to be held on or about October 1, 2013. These comprise approximately 6.8 million ordinary shares and 3.4 million attaching unlisted options. Completion of Tranche 2 of the Placement is conditional upon shareholder approval to be held at an extraordinary meeting of shareholders to be held on or about October 1, 2013. Those investors who participate in Tranche 2 of the Placement will be ineligible to vote on the resolution to approve Tranche 2 of the Placement. 

Company Quote

-0.0040 -6.67%
25 Jul 2014