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ASPEN GROUP — Capital/Financing Update 2014
Oct 6, 2014
64404_rns_2014-10-06_00e172fb-7307-4563-b724-8416cfa243d0.pdf
Capital/Financing Update
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----- Start of picture text ----- Aspen Group LimitedABN 50 004 160 927Aspen Property TrustARSN 104 807 767----- End of picture text -----
Level 3, Newspaper House 129 St Georges Terrace, Perth Western Australia, 6000
Telephone: 08 9220 8400 Facsimile: 08 9220 8401
Email: [email protected]
MARKET RELEASE
ASX ANNOUNCEMENT 7 October 2014
Aspen Parks Property Fund (APPF) Entitlement Offer
Aspen Group (ASX:APZ) provides the following update with respect to the APPF Entitlement Offer, announced on 25 August 2014.
In its capacity as underwriter to the APPF Entitlement Offer, Aspen Group has today received a Shortfall Notice from APPF. The Shortfall Notice specifies that the number of securities for which a valid application was received was 14,357,758 of the 81,371,858 APPF securities offered and that therefore, the shortfall was 67,014,100 APPF securities. The subscription for the shortfall securities by Aspen Group, in accordance with the underwriting agreement, will increase its equity interest in APPF from 12.5% to 40.0%.
Aspen Group notes that on 3 October and 7 October 2014, Discovery Holiday Parks lodged applications with the Takeovers Panel seeking a declaration of unacceptable circumstances pursuant to section 675A of the Corporations Act in relation to the affairs of APPF and the APPF Entitlement Offer.
As a result of the applications, and at the request of the Takeovers Panel, the timetable for the issue of securities under the APPF entitlement offer and Aspen Group's subscription for shortfall securities has been agreed to be extended by two days to Friday 10 October 2014. Under the Takeovers Panel’s rules, Aspen Group is unable to comment at this stage on the merits of the application or the case it will make to the Takeovers Panel. Subject to the Takeovers Panel's rules, Aspen Group will continue to advise of all developments as soon as possible.
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For further information please contact: For media enquiries: Clem Salwin David Tasker Chief Executive Officer Professional Public Relations Phone: (+61) 8 9220 8400 Phone: (+61) 8 9388 0944 Email: [email protected] Mobile: (+61) 433 112 936 Email: [email protected]
Aspen Group ASX Announcement – APPF update Entitlement Offer October 2014 Page 1 of 1