AI assistant
DATADOT TECHNOLOGY LIMITED — Capital/Financing Update 2013
Sep 29, 2013
64764_rns_2013-09-29_367849c6-b79d-4636-885e-47fa6b9f6fa2.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [266 x 110] intentionally omitted <==
DataDot Technology Limited ABN 54 091 908 726
Securities Exchange Announcement
30[th] September 2013
Capital Raising
The Directors of DataDot Technology Limited (ASX:DDT) are pleased to announce that the company is undertaking a capital raising by way of a $2 million private placement (“Placement”) to professional and sophisticated investors. The company also intends to conduct a share purchase plan (“SPP”) which will be capped at $1 million.
Proceeds from the capital raising will be used to:
-
(a) finance business development initiatives including the National Equipment Register and National Marine Register in Australia, the National Metals Register in the US and UK, and CopDots in the US and Canada;
-
(b) support the accelerated commercialisation of technology in DataTraceDNA Pty Limited; and
-
(c) provide additional general working capital.
Placement
The Placement comprises two tranches. Tranche 1 will be conducted under Listing Rule 7.1 without shareholder approval and Tranche 2 will be conducted with shareholder approval.
Under Tranche 1 the company has issued 72 million ordinary shares, representing 14.8% of issued capital, at 2 cents per ordinary share, to raise $1,440,000.
Under Tranche 2 the company will issue 28 million ordinary shares, also at 2 cents per ordinary share, to raise an additional $560,000. Tranche 2 is conditional on obtaining shareholder approval at the company’s AGM on 25[th] November.
==> picture [424 x 27] intentionally omitted <==
==> picture [266 x 110] intentionally omitted <==
SPP
The SPP will offer Eligible Members the opportunity to subscribe for up to $15,000 worth of shares at 2 cents per share, the same price as the Placement. It is not underwritten.
Eligible Members are those who:
-
are recorded in the company’s register of members at 5.00 p.m. on Friday 27[th] September 2013; and
-
whose address, as recorded in the register of members, is in Australia or New Zealand.
No brokerage, commission, stamp duty or other transaction costs will be payable by Eligible Members for the application and issue of shares.
The Plan will open on Friday 4[th] October and close on Monday 21[st] October.
Full details of the terms of the offer and an application form will be sent to all members. The terms of the offer will also be lodged as an announcement with the ASX.
Contact Information:
DataDot Technology Limited Bruce Rathie, Executive Chairman Phone: 02 - 89774900 e-mail: [email protected] web site: www.datadotdna.com
==> picture [424 x 27] intentionally omitted <==