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Subzero Group Ltd Announces AUD8.7 million Capital Raising via Share Placement and Entitlement Offer


Thursday, 31 Oct 2013 09:05pm EDT 

Subzero Group Ltd announced that it has received commitments for the placement of 24,195,000 fully paid ordinary shares in the capital of the Company (Shares) to institutional and sophisticated investors at an issue price of 10 cents per Share, to raise proceeds of approximately AUD2.4 million (before costs) (Placement); and it will provide eligible shareholders the opportunity to participate in a fully underwritten, pro rata non-renounceable entitlement offer to raise up to approximately AUD6.3 million (before costs). Eligible Shareholders will be able to subscribe for 1 new Share for every 3 Shares held as at 7.00 pm (Sydney time) on November 15, 2013 (Record Date) at an issue price of 10 cents per new Share, being the same price as the Shares issued under the Placement (Entitlement Offer). The net proceeds from the Capital Raising will be used to retire the Company's debtor financing facility, increase the Company's working capital and assist in funding the continued development and growth of the SubZero Group's businesses in pursuit of the strategic objectives as set out in the Company's prospectus dated February 7, 2013. 

Company Quote

0.08
-0.01 -11.11%
24 Jul 2014