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EDEN INNOVATIONS LTD — Capital/Financing Update 2019
Mar 6, 2019
64820_rns_2019-03-06_7ba56ce6-a0d3-472c-9ebc-f01d3f8f17ec.pdf
Capital/Financing Update
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ACN 109 200 900
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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
7 MARCH 2019
PRO-RATA RENOUNCEABLE RIGHTS ISSUE RESULTS
The renounceable pro-rata rights offer (Offer) made to shareholders of Eden Innovations Ltd (Eden) who were on the register as at 5:00pm WST on 15 February 2019 pursuant to a prospectus dated 11 February 2019 (Offer Document) closed on 4 March 2019.
The Offer was partially underwritten by Patersons Securities Limited to $5m.
Eden gives notice of the shortfall subscriptions for the Offer as follows:
| No. of New Shares |
No. of New Options |
Gross Proceeds ($) |
|
|---|---|---|---|
| Total number of securities offered | 154,768,569 | 77,384,917 | $8,357,502.73 |
| Entitlements accepted under the Offer | 71,202,324 | 35,601,279 | $3,845,925.50 |
| Additional securities applied for under the Offer |
17,620,009 | 8,810,006 | $951,480.49 |
| Securities accepted bythe underwriter* | 2,727,240 | 1,363,620 | $147,270.96 |
| Securitiesplaced bythe underwriter | 21,574,076 | 10,787,038 | $1,165,000.10 |
| Shortfall | 41,644,920 | 20,822,974 | $2,248,825.69 |
- Subsequent to the underwriter being notified of undersubscriptions, a cheque for $56,323.08 for entitlements and additional securities under the offer was not honoured and the application was rejected.
The above figures are subject to none of the proceeds received by cheque being dishonoured between the time of this announcement and the allotment and issue of New Shares.
Upon completion of the Offer the amount raised will be $6,108,677 (before costs) taking the total amount raised to $7,527,677 (before costs) inclusive of the Placement of $1,419,000 announced on 31 January 2019.
Eden reserved the right in the Offer Document to place any shortfall shares within three months after the closing date of the Offer at a price which is not less than the price at which the Shares were offered under the Offer.
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Aaron Gates Company Secretary
Eden Innovations Ltd | Telephone +61 8 9282 5889 Level 15, 197 St George’s Terrace, Perth, Western Australia 6000, Australia | edeninnovations.com