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DATADOT TECHNOLOGY LIMITED — Capital/Financing Update 2014
Oct 2, 2014
64764_rns_2014-10-02_94b5e7ee-19ae-4f5b-a00d-325f2f3aad8f.pdf
Capital/Financing Update
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DataDot Technology Limited ABN 54 091 908 726
Securities Exchange Announcement
3[rd] October 2014
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 $1.89 million private placement (“Placement”) to professional and sophisticated investors. The company also intends to conduct a share purchase plan (“SPP”) that will be capped at $1 million and the Board has approved the issue of 5 million ordinary shares to Mr Bruce Rathie, the Executive Chairman, subject to shareholder approval at the AGM.
Proceeds from the capital raising will be used to finance:
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1 additional sales capability for industrial DataDotDNA and DataTraceDNA products in the US;
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2 additional sales capability for DataDotDNA products in Australia, targeting the industrial and marine sectors; and
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3 further development of DataDot Live for deployment in the insurance sector.
Placement
The company has issued 70 million ordinary shares, representing 10.92% of issued capital, at 2.7 cents per ordinary share, to raise $1,890,000.
SPP
The SPP will offer Eligible Members the opportunity to subscribe for up to $15,000 worth of shares at 2.7 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 Thursday 2[nd] October 2014; and
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- 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 Thursday 9[th] October and close on Friday 24[th] 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.
Mr Bruce Rathie
The Board has approved the issue of 5 million ordinary shares at 2.7 cents per share, the same price as the Placement and SPP, subject to shareholder approval at the AGM.
Contact Information:
DataDot Technology Limited Bruce Rathie, Executive Chairman Phone: 02 - 89774900 e-mail: [email protected] web site: www.datadotdna.com
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