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ACUMENTIS GROUP LIMITED — Capital/Financing Update 2017
Apr 20, 2017
64295_rns_2017-04-20_7222d714-9016-4625-9419-874a1dd6b82e.pdf
Capital/Financing Update
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21[st] April 2017
LandMark White Limited ABN: 50 102 320 329
Level 15, 55 Clarence Street Sydney NSW 2000 GPO Box 3359 Sydney NSW 2001
Telephone: (02) 8823 6300
Non-renounceable rights issue and Placement
Further to the Company announcing the proposed acquisition of MVS on 13 April 2017, the Company is pleased to announce:
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a pro rata 3 for 5 non-renounceable rights offer of new fully paid ordinary shares in the Company ( New Shares ), at $0.60 per New Share raising approximately $10.5 million ( Rights Issue ); and
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a private placement to sophisticated investors of 16,666,667 fully paid ordinary shares at $0.60 per share to raise approximately $10 million ( Placement ).
Shareholders will have the opportunity to subscribe for more than their entitlement under the Top-Up Facility. More details in relation to the Rights Issue are set out in the enclosed Rights Issue Offer Booklet. Also enclosed is an investor Presentation which will be used to raise funds for the Placement.
The funds raised under the offers will be used to fund the cash purchase price for the acquisition of MVS of $16 million, costs of the offers and additional capital for further investment.
All shares issued under the Placement and Rights Issue will rank equally with all other ordinary shares on issue. The Company will be seeking shareholder approval for the issue of shares under the placement for the purposes ASX Listing Rule 7.1. A notice of meeting will be lodged with the ASX shortly.
The Rights Issue and Placement will be managed by Enrizen Capital Pty Ltd. Enrizen has agreed to underwrite the rights issue to $5 million.
Completion of the Rights Issue, Placement and acquisition of MVS are inter-conditional meaning the Rights Issue and Placement will not proceed unless the acquisition of MVS is completed and vice versa.
An indicative timetable is set out below:
| Event | Estimated Date |
|---|---|
| Execute agreement to acquire MVS | Wednesday, 12thApril 2017 |
| Announce details of placement and non-renounceablerights issue and commence rights issue timetables | Friday, 21stApril 2017 |
| Record date | Thursday, 27 April 2017 |
| ExtraordinaryGeneral Meeting | Thursday, 25thMay2017 |
| Rights Issue and Placement close | 5pm, Friday, 26thMay2017 |
| Completion of MVS acquisition and issue of shares undercapital raising | Wednesday, 31thMay 2017 |
For further information please contact our Company Secretary as below:
Mr John Wise CFO & Company Secretary [email protected] (02) 8823 6356