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DATADOT TECHNOLOGY LIMITED — Capital/Financing Update 2020
May 12, 2020
64764_rns_2020-05-12_1b3142d5-9ca7-40b5-804e-c37d5a87fe11.pdf
Capital/Financing Update
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ASX Announcement
13 May 2020
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DataDot Technology Limited completes Placement
DataDot Technology Limited (“ Company ”) ACN 091 9087 26 (ASX: DDT) advises that it has completed the placement ( Placement ) that was announced to the market on 1 May 2020.
As further indicated in the 1 May 2020 announcement, the Company is also undertaking a nonrenounceable 1 for 3 rights issue ( Rights Issue ) with a Record Date of 7 May 2020. The documentation for the Rights Issue was sent to shareholders and lodged on the ASX Market Announcements Platform on 11 May 2020. The issue price for shares issued under the Rights Issue is $0.004.
Details of the Placement
All shares issued under the Placement were issued at the price of $0.004.
Funds raised under the Placement of $785,453.30 were applied to the redemption of the Convertible Notes.
None of the shares that were issued in the Placement were issued or agreed to be issued to any person referred to in ASX Listing rule 10.11.
The Company has relied on the temporary emergency capital raising relief provided by the ASX Class Waiver.
The Placement was made to sophisticated and professional investors. After a review of a number of possible investors some of whom already have a constructive business relationship with the Company, the Company determined that the most cost effective investors would be those who had previously invested in the Company through Convertible Notes. Following the onset on the Covid-19 disruptions, the Company has an objective to strengthen its balance sheet and financial position by redeeming the Convertible Notes. The elimination of the convertible note debt and the 8% per annum interest payable under the Convertible Notes proved to be compelling and consistent with the Company objectives and based on the issue price, supportive of the separate Rights Issue.
Convertible Noteholders holding notes to the value of $800,000 (excluding Directors and their associates) subscribed for 196,363,325 Placement Shares to raise $785,453.30 on a pro rata basis, comparing the face value of each holders Convertible Notes to the total of $800,000. The shortfall amount of $14,546 will also be repaid to the note holders.
The following table shows the name of the three shareholders to whom Placement Shares were issued, the shareholding of each Shareholder at the 7 May 2020 Record Date for the Rights Issue, the shares issued on 8 May 2020 in the Placement, and the total shares held by each shareholder after the Placement and as at the date of this Announcement.
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| SHAREHOLDER07-May8-May PlacementShares HeldShares Issued | 12-May Total Shares Held | Holding% |
|---|---|---|
| APPWAM PTY LTD45,100,00073,636,247HAMISH EDWARD ELLIOT BROWN11,220,18924,545,416 PATRIX HOLDINGS PTY LIMITED98,181,663 | 118,736,247 35,765,60598,181,663 | 11.9%3.6%9.8% |
| Total Shares on Issue803,318,190196,363,325 | 999,681,515 | 100.0% |
This announcement has been approved for release by the Directors.
For further details contact:
DataDot Technology Limited Brad Kellas Managing Director Email: [email protected]
About DataDot: DataDot Technology Limited provides world leading asset identification, management, protection and authentication solutions that deliver great value to customers. For more information please visit www.datadotdna.com.
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