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ENERGY TECHNOLOGIES LIMITED — Capital/Financing Update 2021
Oct 13, 2021
64831_rns_2021-10-13_ec31ad69-1c7d-4a0f-aafa-039371ed09e2.pdf
Capital/Financing Update
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ENERGY TECHNOLOGIES LIMITED
A.B.N. 38 002 679 469
Unit J, 134 - 140 Old Pittwater Road Brookvale NSW 2100 Tel: +61 2 9938 5622 www.energytechnologies.com.au
Australian Stock Exchange Company announcements platform
14 October 2021
ABN 38 002 679 469
Energy Technologies Limited (ASX:EGY) – Rights Issue Results
Highlights
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$11,000,000 raised in Non Renounceable Entitlement Offer
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Capital raised will be used to fund the purchase of raw materials to increase inventory in operating subsidiary, Bambach Wires and Cables; replenish the Balance Sheet, restructure parts of the operating business and to replenish working capital & tendering facilities.
Energy Technologies Limited (ASX:EGY) is pleased to advise that the partially underwritten nonrenounceable Entitlement Offer announced on 20 September 2021 has closed raising $10,272,006.97. A subsequent shortfall placement of $727,993.03 resulted in the Company raising $11,000,000 in total (together, the Offer ).
The Offer will result in the issue of securities as follows:
| Shares | Options* | Funds raised | |
|---|---|---|---|
| Entitlment Offer acceptances | 38,836,427 | 9,709,107 | $4,272,006,97 |
| Underwriter Shortfall | 54,545,454 | 13,636,363 | $6,000,000.00 |
| Shortfall Placement | 6,618,119 | 1,654,530 | $727,993.03 |
| Total | 100,000,000 | 25,000,000 | $11,000,000 |
*Each option will be exercisable at $0.20 with an expiry date of 31 October 2024
PAC Partners Securities advised Energy Technologies on the Entitlment Offer and acted as Lead Manager and Underwriter to the Entitlment Offer. Energy Technologies would like to thank all its shareholders for their support and welcomes the new shareholders to the register.
The new securities are expected to be issued on Thursday, 14 October 2021 in accordance with the announcement and timetable released to the ASX on 20 September 2021.
“We are very pleased to see shareholders support the strengthening of our balance sheet,” said Brian Jamieson, Chairman of Energy Technologies. “We are now in a much stronger position to execute our
strategy to install the Silicon Line manufacturing equipment, retire outstanding debt, restructure our operating business and provide working capital for growth.
END
Authorised by the Chairman
For further information please contact:
Brian Jamieson Chairman Energy Technologies Limited (612) 9938 5622 [email protected]
About Energy Technologies
Energy Technologies Limited (ABN 38 002 679 469) has a 100% ownership of Bambach Wires and Cables Pty Ltd, a manufacturer of low voltage copper insulated cables. Learn more about Energy Technologies at www.energytechnologies.com.au.
website: www.energytechnologies.com.au
For more information, please contact:
Mr. Tony Smith Non-Executive Director [email protected]