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ADSLOT LTD. — Capital/Financing Update 2014
Jul 2, 2014
64306_rns_2014-07-02_52e59ce2-381d-488c-a805-58f108e1f356.pdf
Capital/Financing Update
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Level 2, 85 Coventry St, www.adslot.com South Melbourne Victoria 3205 Australia T: +61 (0) 3 8695 9199 E: [email protected] F: +61 (0) 3 9696 0700
Adslot Ltd ABN: 70 001 287 510 ASX: ADJ
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A S X A N N O U N C E M E N T
3 July 2014
Adslot Successfully Undertakes AUD$6.5M Share Placement
Adslot Ltd ACN 001 287 510 ( Adslot or Company ) is pleased to announce it has successfully completed a AUD$6.5 million placement ( Placement ) pursuant to s.708A of the Corporations Act 2001.
Adslot is pleased with the level of support for the Placement, which was oversubscribed and resulted in a number of domestic and offshore institutional investors being introduced to the Adslot register.
The Placement consists of 65,000,000 ordinary shares ( Shares ) at A$0.10 per share ( Offer Price ). The Offer Price represents a discount of approximately 12.3% to the 10-day VWAP immediately prior to the raising.
The Placement will be conducted in one tranche utilising the Company’s 15% capacity under Listing Rule 7.1. Shares issued under the Placement will rank equally with Adslot’s existing ordinary shares on issue.
The funds raised will be applied to:
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Accelerate development and integration of the Adslot and Symphony platforms;
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Strengthen the balance sheet; and
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Provide additional working capital.
Adslot's shares will resume ordinary trading with immediate effect.
-ENDS-
Contact
Investor Relations Adslot Ltd Email: [email protected]
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