AI assistant
DXN LIMITED — Capital/Financing Update 2018
Dec 16, 2018
64806_rns_2018-12-16_9fc6302d-900b-47c5-9ef2-5e4c8de7dd87.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
17 December 2018
==> picture [185 x 52] intentionally omitted <==
ASX Announcement
Capital Raising – Placement and Share Purchase Plan
1. Placement
The Data Exchange Network Limited (ASX: DXN) ( Company ) is pleased to advise that it has successfully secured a placement of 12,748,383 ordinary shares in the Company to a number of sophisticated and institutional investors at a price of $0.155 per share, and 224,129 ordinary shares under a private placement by way of personal offers in accordance with section 708(2) of the Corporations Act 2001 (Cth) ( Corporations Act ) raising in total $2,010,739 (before costs) ( Placement ).
The new shares to be issued under the Placement will rank equally with existing DXN fully paid ordinary shares on issue. The Placement was conducted in accordance with ASX Listing Rule 7.1.
The issue of 1,451,613 ordinary shares totaling $225,000 under the Placement relates to Director participation, and as such will be subject to shareholder approval at a general meeting to be held in late January 2019.
The expected date of issue of the ordinary shares is Wednesday, 19 December 2018.
2. Share Purchase Plan
DXN will now invite existing shareholders to invest in the Company through a Share Purchase Plan ( SPP ) at a purchase price of $0.155 per share.
Shareholders on the DXN share register at 7.00pm (AEST) on Thursday, 13 December 2018 ( Record Date ), whose registered address is in Australia or New Zealand will be entitled to subscribe for a minimum of $2,000 worth of DXN fully paid ordinary shares, up to a maximum amount of $15,000 worth of DXN fully paid ordinary shares (free of brokerage and other transaction costs), subject to the terms and conditions of the SPP.
The amount to be raised under the SPP is $2.5 million with oversubscriptions for another $1 million. The Board reserves the right in its absolute discretion to withdraw, scale back and/or close the SPP offer early, as well as to accept oversubscriptions.
The new shares to be issued under the SPP will rank equally with existing DXN fully paid ordinary shares on issue.
Further information in relation to the SPP, including the SPP terms and conditions, will be outlined in a separate SPP offer document ( Offer Document ) which will be despatched to eligible shareholders within the next 10 business days.
3. Indicative Timetable
The timetable below is indicative only and subject to change. The Company reserves the right to alter the below dates at its full discretion and without prior notice, subject to the ASX Listing Rules and the Corporations Act. The commencement of trading of new DXN fully paid ordinary shares is subject to confirmation from ASX.
All times below are Australia Eastern Daylight Savings Time.
9 Mumford Place, Balcatta, Perth, Western Australia, 6021 T: 08 9288 1870 | E: [email protected]
dataexchange.io
==> picture [185 x 52] intentionally omitted <==
| Event | Date |
|---|---|
| Record date for the SPP | 14 December 2018 (7.00pm) |
| Announcement date of Placement and SPP | 17 December 2018 |
| Expected date of issue of the Placement shares | 19 December 2018 |
| Despatch of the Offer Document | 21 December 2018 |
| SPP opening date | 21 December 2018 |
| SPP closing date | 25 January 2019 |
| Issue of shares under SPP | 1 February 2019 |
| SPP shares commence trading on the ASX | 4 February 2019 |
4. Use of funds
Funds raised from the Placement and SPP will be primarily used to increase the power capacity to 1MW at both Homebush, Sydney and Port Melbourne.
As a result of this announcement, DXN will resume trading from the commencement of trading today.
For investor information, please contact:
Peter Christie Managing Director T: +61 (0) 412 277 571 E: [email protected]
About the Data Exchange Network
Data Exchange (DXN) designs, builds, owns and operates data centres. Offering integrated, customised and tailored solutions to clients, DXN provides businesses with the option of delivering solutions to site through containerised modules, or space in DXN’s modular colocation facilities to suit technical specifications and operational requirements. From a single rack in the colocation facilities through to fully customised Edge Infrastructure, DXN can deliver a range of solutions to meet modern data centre requirements. To find out more about Data Exchange’s Modular Colocation facilities visit www.dataexchange.io
9 Mumford Place, Balcatta, Perth, Western Australia, 6021 T: 08 9288 1870 | E: [email protected]
dataexchange.io