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DE.MEM LIMITED — Capital/Financing Update 2018
Dec 19, 2018
64766_rns_2018-12-19_6a0ebde0-f39e-4d51-8d21-e943c6bb0441.pdf
Capital/Financing Update
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ASX RELEASE | De.mem Limited (ASX:DEM)
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Close of entitlement offer and shortfall commitments received
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$619,348 to be raised via non-renounceable entitlement offer
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Applications and expressions of interest received for Shortfall Shares to raise a further $1.12 million
20 December 2018: Water and waste water treatment company De.mem Limited (ASX:DEM) (“De.mem” or “the Company”) advises its 1-for-7 non-renounceable entitlement offer (the “Offer”) closed at 5.00pm (AEST) on 17 December 2018.
De.mem offered 15,381,282 fully paid new ordinary shares to existing shareholders with registered addresses in Australia, New Zealand, Singapore, Hong Kong, Germany and Switzerland at a price of $0.135 per share (ASX announcement: 26 November 2018).
The Company has received valid applications for 4,587,762 new shares, to raise a total of $619,348. De.mem advises that the offer Shortfall is a total of 10,793,520 shares.
De.mem is pleased to confirm that it has also received applications for 4,601,850 Shortfall Shares and written expressions of interest for a further 3,703,703 Shortfall Shares. These Shortfall Shares will be placed at the Company’s discretion, together with any additional Shortfall applications that the Company may receive in accordance with the timetable outlined in the Rights Issue Offer Document dated 26 November 2018.
The results of the Offer are as follows:
| The results of the Offer are as follows: | |
|---|---|
| Existingshares on issueprior to the Offer | 107,668,974 |
| Total number of new shares applied for under the Offer | 4,587,762 |
| Total shares on issue following issue of the Offer shares(on or about 24 Dec 2018) | 112,256,736 |
| Total number of Shortfall Shares available | 10,793,520 |
| Total Shortfall Shares applied for and written expressions of interest recieved | 8,305,553 |
| Remaining‘uncommitted’ Shortfall Shares | 2,487,967 |
The funds raised from the Offer and the Shortfall will be used to fund growth in Australia and Asia, as well as to potentially complete the acquisition of an industrial wastewater company in Germany as previously announced (see ASX announcement dated 26 November 2018).
De.mem CEO Andreas Kroell said: “On behalf of the Board of Directors, I would like to thank the existing shareholders for their support.
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“De.mem is well placed entering CY2019, with a strengthened balance sheet, growing order book and an impressive suite of industry leading technology in the water and wastewater treatment sector.
“We look forward to providing updates to shareholders as developments materialise.”
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For further information, please contact:
De.mem Limited Media & Investor Inquiries Andreas Kroell Six Degrees Investor Relations CEO Henry Jordan De.mem Limited +61 (0) 431 271 538 [email protected]
About De.mem Limited
De.mem Limited (ASX:DEM) is a Singaporean-Australian decentralised water and waste water treatment business that designs, builds, owns and operates turn-key water and waste water treatment systems for its clients. The Company operates in the industrial segment providing systems and solutions to customers from the mining, electronics, chemicals, oil & gas and the food & beverage industries and in the municipal and residential segments. De.mem makes use of a portfolio of proprietary hollow fibre membrane technologies, which are commercialized as a key component within the Company’s water and waste water treatment systems. Some of the technologies were originally developed by the De.mem’s partner in research & development, Singapore’s Nanyang Technological University (NTU), and exclusively licensed to the Company. Those include a revolutionary low-pressure hollow fibre nanofiltration membrane and a hollow fibre forward osmosis membrane for de-watering or concentration of liquids. Through its wholly owned subsidiary De.memAkwa Pty Ltd (formerly: Akwa-Worx Pty Ltd), De.mem has a strong presence in Australia. De.mem-Akwa has a market reputation for building high quality Australian-made water and waste water treatment systems and has long-term customers in the Australian mining, infrastructure and food & beverage industries. To learn more please visit: www.demembranes.com
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