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DIMERIX LIMITED — Capital/Financing Update 2007
Dec 18, 2007
64804_rns_2007-12-18_a292b51a-8a76-4032-b5c9-32834f1a7bcb.pdf
Capital/Financing Update
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19 December 2007
ASX ANNOUNCEMENT
Sun Biomedical Announces Placement and Share Purchase Plan
Sun Biomedical Limited (ASX:SBN) [formerly Harrington Group Limited (ASX:HGR)] is pleased to advise that it is undertaking a $913,105 private placement capital raising which is being led and managed by Patersons Securities Limited. The placement will comprise 21,235,000 shares to be issued at 4.3 cents per share to sophisticated and professional investors. These funds will be allocated to capital expenditure to increase manufacturing capacity, repayment of the January promissory note commitment of $237,000 and additional working capital. The placement has been supported by the Company’s major shareholder Log Creek Pty Ltd, who will retain its percentage shareholding in the Company. The placement shares are expected to be issued on 31 December 2007.
Sun Biomedical Limited is also pleased to announce that it will be implementing a Share Purchase Plan to allow eligible shareholders to apply for up to $4,999.75 worth of shares in the Company at an issue price of 4.3 cents per share. Further details of the Plan are set out in the attached form of letter of offer and the terms and conditions of the Plan, which will be sent to eligible shareholders together with an acceptance form. Eligible shareholders will only be able to participate in the Plan by completing and returning the acceptance form sent to them, together with payment for the amount of shares they wish to take up. The Board of Sun Biomedical has determined that the SPP may be scaled back to meet the Company’s fund requirements once the total amount of applications are known.
Eligible shareholders will be persons recorded on the Company’s register of members as holding shares on the record date for the offer, which is 19 December, 2007, who have registered addresses in Australia or New Zealand.
Eligible shareholders should receive a formal letter of offer and the terms and conditions of the Plan in the form attached, together with an application form in the week commencing 24 December, 2007.
For further information contact:
Andrew Paice Director Telephone: +61 3 8610 6370 Facsimile: +61 3 8610 6374 Email: [email protected]
Sun Biomedical Suite 401, 480 Collins Street, Melbourne, Victoria, Australia, 3000 Limited T: +61 3 8610 6370 | F: +61 3 8610 6374 | E: [email protected] ABN 18 001 285 230
T: +61 3 8610 6370 | F: +61 3 8610 6374 | E: [email protected]
ASX:SBN www.sunbiomed.com