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FLUENCE CORPORATION LIMITED — Capital/Financing Update 2018
Nov 25, 2018
64922_rns_2018-11-25_6c71e198-e453-4b3d-b979-74d9b2a7b7cb.pdf
Capital/Financing Update
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Successful completion of Share Purchase Plan (SPP)
$3.3 million raised from SPP applications, reflecting strong shareholder support Total proceeds from recent placement and SPP of $36.5 million
Melbourne, New York 26 November 2018
Fluence Corporation Limited (ASX: FLC) is pleased to report the successful completion of the Company’s Share Purchase Plan (SPP), which received strong shareholder support, raising $3.3 million from 393 Eligible Shareholders. A total of 9.1 million new shares will be allotted.
The SPP, announced on 26 October 2018, allowed each Eligible Shareholder to subscribe for a maximum of $15,000 in new Fluence fully paid ordinary shares at $0.37 per share; the same offer price as for the recently completed share placement.
The total amount raised from the recent share placement and the SPP of $36.5 million underpins the Company’s global growth plans by supporting:
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working capital to fund business growth in China for MABR and SUBRE based sales
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the equity component of potential Build Own and Operate projects
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general working capital for the business.
Henry Charrabé, Managing Director and CEO of Fluence, commented:
“We are pleased with the support shown by our retail shareholders through the SPP that allowed them to further invest in the business at the same offer price as the recent institutional capital raising. The funds raised from the recent placement and SPP will be used productively to further advance the business, generating scale and supporting the working capital and equity components in our growing pipeline of opportunities.”
New shares under the SPP are expected to be issued to applicants on Friday, 30 November 2018 with the expected date for ASX to grant quotation of shares that have been issued under the SPP to also take place on Friday, 30 November 2018.
-ENDS-
For further information, please contact:
Investors (Australia):
Corporate: Investors (Australia): Henry Charrabé Ronn Bechler Managing Director & CEO Market Eye E: [email protected] E: [email protected] P: +1 212 572 3766 P: +61 400 009 774
Media (Australia): Richard Irving (USA) Tristan Everett Executive Chairman Market Eye E: [email protected] E: [email protected] P: +1 408 382 9790 P: +61 403 789 096
Investors & media (USA):
Ross Kennedy (Australia) Company Secretary & Advisor to the Board E: [email protected] P: +61 409 524 442
Gary Dvorchak, CFA The Blueshirt Group E: [email protected] P: +1 323 240 5796 (US) or +86 138 1079 1480 (China)
About Fluence Corporation Limited (ASX: FLC)
Fluence has experience operating in over 70 countries worldwide and employs more than 300 highly trained water professionals around the globe. The Company provides local, sustainable treatment and reuse solutions, while empowering businesses and communities worldwide to make the most of their water resources.
Fluence offers an integrated range of services across the complete water cycle, from early stage evaluation, through design and delivery to ongoing support and optimization of water related assets. With established operations in North America, South America, the Middle East and Europe, Fluence is also expanding into China’s rural wastewater treatment market.
Global consultancy Frost and Sullivan recently awarded Fluence Corporation “2018 Global Decentralized Water and Wastewater Treatment Company of the Year”, noting in their award dissertation:
“While typical decentralized water treatment systems are relatively expensive, complicated, and inefficient, Fluence Corporation leverages innovative and smart technology solutions backed by decades of industrial know-how to excel in water and wastewater treatment solutions. Fluence’s excellence becomes apparent through its success, as the company continues to expand its existing offerings as well as partnerships with other prominent companies in the industry. With its easy to use, sustainable, smart and cost-effective solutions as well as a remarkable year of growth, innovation, and leadership, Fluence Corporation earns Frost & Sullivan’s 2018 Global Company of the Year Award in the decentralized water and wastewater treatment industry.”
Further information can be found at https://www.fluencecorp.com/.