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ADSLOT LTD. — Capital/Financing Update 2010
Sep 12, 2010
64306_rns_2010-09-12_eb80c6f1-6b8c-4fd1-8651-cde804a5f3b4.pdf
Capital/Financing Update
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Webfirm Group Limited 23 Union St, South Melbourne ABN: 70 001 287 510 Victoria 3250 Australia ASX: WFM E: [email protected]
www.webfirmgroup.com T: +61 (0) 3 8695 9199 F: +61 (0) 3 9696 0700
A S X A N N O U N C E M E N T
13 September 2010
Webfirm Group completes placement and offers share purchase plan
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$7.57 million placement at $0.13 per share, heavily oversubscribed
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Funding to expand the Adslot platform into international markets
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Share purchase plan for all shareholders
Webfirm Group Limited (ASX:WFM) announced today that it has successfully completed a placement of 58,250,000 shares at $0.13 per share to raise gross proceeds of $7,572,500.
The placement was heavily oversubscribed and resulted in a number of quality institutional investors being introduced to the Webfirm register. In addition, a cornerstone investor, Chris Morris, Executive Chairman of Computershare Limited (ASX:CPU), has contributed approximately 36% of the total funds raised.
The funds will be applied to expanding the business into international markets, particularly Europe and for general working capital.
Placement
The placement has been made to institutional and sophisticated investors pursuant to Section 708 of the Corporation Act 2001, comprising 58,250,000 shares using the Company’s 15% placement capacity under Listing Rule 7.1, raising $7.57 million.
E.L. & C. Baillieu Stockbroking Ltd acted as Lead Manager to the Placement.
David Burden, Webfirm Group’s Managing Director commented that “we are very happy with the level of interest and support received from investors in this capital raising. Webfirm is now well-placed to successfully execute on its international roll-out strategy, and capitalise on the strong interest already received from prospective customers in Europe and North America.”
Share Purchase Plan (“SPP”)
Webfirm recognises the strong support from all its shareholders and is pleased to advise that those shareholders who are recorded on the Company’s share register as at 7pm (Melbourne time) on Friday, 10[th] September 2010 with a registered address in either Australia or New Zealand will be eligible to participate in the SPP.
Under the SPP, each eligible shareholder will be entitled to apply for up to $15,000 of fully paid ordinary Webfirm shares at $0.13 per share (being the same price at which the shares were offered under the Placement).
Webfirm Limited reserves the right to scale back applications under the SPP, at its discretion, if total demand exceeds $4 million. The SPP is underwritten to $4 million.
The proposed timetable has been provided below:
| Timetable | Timetable |
|---|---|
| Record Date | Friday,10 September 2010 |
| SPP offer dispatched to shareholders | Wednesday,15 September 2010 |
| SPP opens | Thursday,16 September 2010 |
| SPP offer closes | Thursday,21 October 2010 |
| Allotment of SPP shares | Wednesday,27 October 2010 |
** Timetable is indicative only and subject to change
Full details of the SPP will be set out in the documentation to be sent to eligible shareholders shortly.
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Contacts:
Investor Relations: Gavan Flower Company Secretary Phone: 0400 507 178 Email: [email protected]
About the Webfirm Group
Webfirm Group Limited (ASX: WFM) is an innovative Internet technology and marketing company that maximises online profitability for its customers. The company operates two main divisions.
The Adslot division provides patented advertising sales automation services that reduce selling costs and increase premium advertising revenue for its publisher clients.
The company’s Webfirm division offers the complete spectrum of online marketing services including web design and development, website optimisation, hosting, search and social marketing and e-commerce services; the division also delivers premium quality search monetisation solutions.
With more than 60 staff across Melbourne, Sydney and Perth, the Webfirm Group continues to develop innovative products and services aimed at helping customers maximise their online investment.
More information at www.webfirmgroup.com