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ASPEN GROUP — Capital/Financing Update 2021
Aug 25, 2021
64404_rns_2021-08-25_1be275c5-2baf-48cc-a0de-9a94d7f3b017.pdf
Capital/Financing Update
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Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767 Suite 21, 285A Crown Street Surry Hills NSW 2010 Telephone: 02 9151 7500 Email: [email protected]
Not for release to US wire services or distribution in the United States
ASX ANNOUNCEMENT 26 August 2021
Aspen Group Security Purchase Plan Opening
Aspen Group (which comprises Aspen Group Limited and the Aspen Property Trust) (ASX: APZ) (“Aspen”) announced on Thursday, 19 August 2021 that it would be conducting a security purchase plan ("SPP") to provide Eligible Securityholders (defined below) with the opportunity to acquire up to $30,000 worth of Aspen securities ("New Securities") without paying any brokerage costs, commissions or other transaction costs.
The SPP supplements the recent successfully completed $23.2 million institutional placement conducted at $1.33 per New Security. Securityholders participating in the SPP will be able to purchase New Securities at $1.33 per New Security, being the same price paid by investors under the institutional placement.
Participation in the SPP is optional and is open to eligible securityholders who were holders of APZ securities on the Record Date (being 7.00pm AEST on Wednesday, 18 August 2021) with a registered address in Australia or New Zealand ("Eligible Securityholders").
The SPP aims to raise up to $2.75 million and is not underwritten. If the total value of applications under the SPP exceeds $2.75 million Aspen may, in its absolute discretion, scale back applications, or increase the total amount raised under the SPP. The New Securities will rank equally with existing APZ securities and will be entitled to the distribution for the half year ending 31 December 2021.
Further details are set out in the terms and conditions of the SPP ("SPP Terms") contained in the SPP offer booklet ("SPP Booklet"). Eligible Securityholders will today be mailed the attached SPP Booklet containing the SPP Terms and a letter inviting them to participate in the SPP. Securityholders are encouraged to read the SPP Booklet and SPP Terms carefully and, if in any doubt about whether or not to accept the offer, to consult their financial or other professional advisor.
Key dates:
| Event | Date |
|---|---|
| SPP Offer opens | Thursday, 26 August 2021 |
| Documents mailed to Eligible Securityholders | Thursday, 26 August 2021 |
| SPP Offer closes | 5:00pm (Sydney time), |
| Wednesday, 8 September 2021 | |
| Announcement of results of the SPP | Friday, 10 September 2021 |
| Settlement of New Securities issued under the SPP | Thursday, 14 September 2021 |
| Allotment of New Securities issued under the SPP | Wednesday, 15 September 2021 |
| New Securities commence normal trading on ASX | Thursday, 16 September 2021 |
| Despatch of holding statements / confirmation advices | Thursday, 16 September 2021 |
Note: This timetable is indicative only and subject to change. Aspen reserves the right to alter the above dates at its discretion and without notice to you, subject to the ASX Listing Rules and the Corporations Act.
Announcement authorised by the Board of Aspen Group Limited.
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For further information, please contact: David Dixon John Carter Joint Chief Executive Officer Joint Chief Executive Officer Phone: (+61) 2 9151 7584 Phone: (+61) 2 9151 7586 Email: [email protected] Email: [email protected]
Disclaimer
This address has been prepared by Aspen Group Limited on behalf of Aspen Group Limited and Aspen Property Trust (“ Aspen ”) and should not be considered in any way to be an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security, and neither this document nor anything in it shall form the basis of any contract or commitment. Prospective investors should make their own independent evaluation of an investment in Aspen. Nothing in this address constitutes investment, legal, tax or other advice. The information in this address does not take into account your investment objectives, financial situation or particular needs. The information does not purport to constitute all of the information that a potential investor may require in making an investment decision.
Aspen has prepared this address based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this address. To the maximum extent permitted by law, none of Aspen, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this address or its contents or otherwise arising in connection with it.
This address contains forward looking information. Indications of, and guidance on, future earnings, distributions and financial position and performance are forward looking statements. Forward looking statements are based on Aspen’s current intentions, plans, expectations, assumptions, and beliefs about future events and are subject to risks, uncertainties and other factors which could cause actual results to differ materially. Aspen and its related bodies corporate and their respective directors, officers, employees, agents, and advisers do not give any assurance or guarantee that the occurrence of any forward-looking information, view or intention referred to in this address will actually occur as contemplated. All references to dollar amounts are in Australian currency.
This address has been prepared for publication in Australia and may not be released to the US wire services or distributed in the United States. This address does not constitute an offer of securities for sale in the United States or any other jurisdiction. Any securities described in this address may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from registration.
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