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ENEGEX LIMITED — Capital/Financing Update 2016
Jun 22, 2016
64859_rns_2016-06-22_8684d686-ea01-4c6b-9ec3-9625e0a8d41e.pdf
Capital/Financing Update
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ASX RELEASE
23 June 2016
Non Renounceable Rights Issue Closed- Notification of Under Subscriptions
Enegex Limited (“Enegex” or the “Company”) (ASX: ENX) advises that its one for two non-renounceable pro rata rights issue at $0.012 per new fully paid ordinary share (“Rights Issue”) closed at 5.00pm (AEST) on Monday, 20 June 2016.
The Rights Issue offer comprised:
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the one-for-two non-renounceable Rights Issue offer;
-
a Shortfall offer, under which Eligible Members; other than related parties of Enegex and their Associates:
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(a) who hold currently less than a Marketable Parcel of Shares (being 41,667 Shares having a market value of $500.00 at the Issue Price);
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(b) whose shareholding in Enegex will not increase to a Marketable Parcel of Shares as a result of taking up their Entitlement;
were entitled to apply for that number of additional new Shares, in addition to their Entitlements, sufficient to increase their shareholdings in Enegex to a Marketable Parcel of Shares, subject to there being sufficient new Shares not taken by Eligible Members in accordance with their respective Entitlements.
The following table sets out the number of new shares to be issued to with respect to the rights issue.
| Rights Issue Details | No. New Shares |
Gross Proceeds $ |
Maximum % |
|---|---|---|---|
| Maximum numbers of shares that could be issued under Rights Issue |
26,833,246 | 321,999 | 100% |
| Less Rights Issue offer subscriptions | (7,840,499) | (94,086) | (29%) |
| Less shortfall offer subscriptions | (4,700,194) | (56,402) | (18%) |
| Less shares to be allocated to Nominee on behalf of ineligible shareholders |
- | - | - |
| Total rights issue and shortfall offer acceptances (subscriptions) |
12,540,693 | 150,488 | 47% |
| Offer shortfall (under subscriptions) | 14,292,553 | 171,511 | 53% |
Enegex Limited ABN 28 160 818 986 Level 21 500 Collins Street Melbourne t +61 3 8610 4713 e [email protected] w www.Enegex.com
| Number of Rights Issue shares underwritten | 26,833,246 | 321,999 | 100% |
|---|---|---|---|
| Less Total Rights Issue and shortfall offer acceptances (subscriptions) |
(12,540,693) | (150,488) | (47%) |
| Shortfall to Underwriter | 14,292,553 | 171,511 | 53% |
The total amount of capital to be raised under the right issue is $321,999 before costs.
Subject to finalisation, the new shares will be issued and allotted to applicants under the rights issue and shortfall offer and transaction confirmation statements despatched on Thursday, 23 June 2016.
New shares in satisfaction of the Underwriter’s obligation for shortfall will be issued and allotted to the Underwriter on 29 June 2016.
The relevant Appendices 3B will follow issue and allotment of the rights issue shares and the issue of shares to the Underwriter.
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Robert Wright Company Secretary 23 June 2016
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Enegex Limited ABN 28 160 818 986 Level 21 500 Collins Street Melbourne t +61 3 8610 4713 e [email protected] w www.Enegex.com