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Diversa Ltd Announces Equity Raising


Sunday, 24 Feb 2013 06:43pm EST 

Diversa Ltd announced that it will raise up to approximately AUD 1 million through a 2 for 3 accelerated non-renounceable entitlement offer (Entitlement Offer) of fully paid ordinary shares in Diversa (New Shares). The Entitlement Offer comprises an accelerated component (Accelerated Offer) and a retail component (Retail Offer). Lodge Partners Pty Ltd has been appointed as Lead Managers for the Entitlement Offer and Bizzell Capital Partners Pty Ltd (an entity associated with director Stephen Bizzell) as Corporate Advisor. The Entitlement Offer is not underwritten. Approximately 68,703,600 New Shares will be issued as part of the Entitlement Offer at AUD 0.015 per share. New Shares issued under the Entitlement Offer will rank equally with existing shares. Under the Entitlement Offer, eligible shareholders will be invited to subscribe for 2 New Shares for every 3 existing Diversa ordinary shares held at 7.00pm (AEST) on February 28, 2013 (Record Date) at the Offer Price. The Retail Offer will include a top up facility under which eligible retail shareholders who take up their full entitlement will be invited to apply for additional New Shares in the Retail Offer from a pool of those not taken up by other eligible retail shareholders. There is no guarantee that applicants under this top up facility will receive all or any of the shares they apply for under the facility. Proceeds will be used to fund the Company‚Äôs ongoing organic growth strategy. 

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11 Dec 2014