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DE.MEM LIMITED — Capital/Financing Update 2021
Apr 14, 2021
64766_rns_2021-04-14_107e3a32-8926-4566-9d25-c399a70aa412.pdf
Capital/Financing Update
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ASX RELEASE | De.mem Limited (ASX:DEM)
De.mem Share Purchase Plan Closes Oversubscribed
Highlights:
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Share Purchase Plan (“SPP”) approximately 34% oversubscribed, raises approximately $1.61 million
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Significantly strengthened balance sheet, with indicative post-capital raising and post-SPP cash position of ~$11 million (cash and term deposits as at 31 December 2020: $5.4 million)
15 April 2021: Water and wastewater treatment company De.mem Limited (ASX:DEM) (“De.mem” or “the Company”) is pleased to announce that its Share Purchase Plan (SPP), which closed oversubscribed on Monday 12 April 2021, has raised approximately $1.61m.
Oversubscribed Share Purchase Plan
The Company received strong shareholder support for the SPP, which is approximately 34% above the SPP’s target of $1.2 million. The Company’s Board of Directors has decided to accept oversubscriptions to enable all interested shareholders who applied before the SPP’s closure to participate.
The Company will issue 5,749,934 shares to SPP applicants at an issue price of $0.28 (28 cents). Successful applicants’ shares will be issued in coming days.
SPP application payments received after the closure will be refunded in full.
Strengthened Balance Sheet
The SPP forms part of the capital raising announced by the Company on 17 March 2021 (see ASX release, De.mem completes Capital Raising; announces Share Purchase Plan ).
De.mem’s indicative post-capital raising and post-SPP cash position is ~$11 million, after the initial payment for the Capic acquisition (see ASX release, De.mem Announces Strategic Acquisition in Western Australia , dated 16 March 2021) and transaction costs. De.mem previously reported $5.4m cash and term deposits as at 31 December 2020.
CEO Comment
CEO Andreas Kroell expressed thanks to the applicants:
“On behalf of our Company, I would like to thank all shareholders who supported our Share Purchase Plan. The Board is acknowledging our continued, high level of shareholder support by accepting oversubscriptions to allow all interested and eligible shareholders to participate.”
De.mem Limited (ASX:DEM) | Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 | [email protected] | +613 9692 7222 | ACN: 614 756 642 | demembranes.com
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This release was authorized by the Company’s Chief Executive Officer, Mr. Andreas Kroell.
For further information, please contact:
| De.mem Limited | Investor Enquires | |||
|---|---|---|---|---|
| Andreas Kroell | George Gabriel, CFA | |||
| CEO | +61 3 8686 9144 | |||
| De.mem Limited | [email protected] | |||
| [email protected] |
De.mem Limited (ASX:DEM) is an Australian-Singaporean decentralised water and wastewater treatment business that designs, builds, owns and operates turnkey water and wastewater treatment systems for some of the world’s largest companies in the mining, electronics, chemical, oil & gas, and food & beverage industries. Its systems also provide municipalities, residential developments and hotels/resorts across the Asia Pacific with a reliable supply of clean drinking water.
De.mem’s technology to treat water and wastewater is among the most advanced globally. The Company is headquartered in Australia and has international locations in Singapore, Germany and Vietnam. It is commercialising an array of innovative proprietary technologies from its research and development partner, Nanyang Technological University (NTU) in Singapore, a world leader in membrane and water research. Technologies uniquely offered by De.mem include a revolutionary low-pressure hollow fibre nanofiltration membrane that uses less electricity and is cheaper to operate than conventional systems, as well as a new Forward Osmosis membrane deployed in dewatering applications or the concentration of liquids.
To learn more, please visit: www.demembranes.com
Forward Looking Statements
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of De.mem Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.
De.mem Limited (ASX:DEM) | Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 | [email protected] | +613 9692 7222 | ACN: 614 756 642 | demembranes.com