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HARVEST TECHNOLOGY GROUP LTD — Capital/Financing Update 2023
Jul 16, 2023
65075_rns_2023-07-16_4f86e0a7-a9ab-43b7-ab7b-9454e2a1dce7.pdf
Capital/Financing Update
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Not for release to US wire services or distribution in the United States.
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Announcement to ASX ASX Code: HTG
July 17, 2023
HTG LAUNCHES SHARE PURCHASE PLAN
July 17, 2023: Harvest Technology Group Limited (ASX:HTG) ( Company, Harvest, Group ) is pleased to announce the opening of the Share Purchase Plan ( SPP ), as announced by the Company on Tuesday July 11, 2023.
Under the SPP, the Company is inviting existing shareholders, who were registered as the holder of fully paid ordinary shares in the Company ( Shares ) at 5:00pm (AWST) on Monday July 10, 2023 ( Record Date ), with a registered address in Australia or New Zealand ( Eligible Shareholders ), to apply for a minimum of A$5,000 and up to a maximum of A$30,000 worth of new Shares (with A$2,500 increments) ( New Shares ) at an issue price of A$0.037 per New Share ( Issue Price ).
The Issue Price is equal to the price at which the Company undertook the Placement announced on Tuesday July 11, 2023, and represents:
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a 21.3% discount to the last closing price of A$0.047 on Thursday July 6, 2023, being the last trading day before the announcement of the Placement and SPP; and
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a 18.3% discount to the volume-weighted-average-price (VWAP) of the Company’s Shares on the ASX over the 5 trading days up to and including Thursday July 6, 2023, of A$0.0453.
The Company is seeking to raise up to A$1 million (before costs) under the SPP (comprising up to 27,027,028 New Shares) and reserves the right to accept oversubscriptions above A$1 million, subject to compliance with the ASX Listing Rules and Corporations Act 2001 (Cth). The SPP may also be subject to a scale back of applications at the absolute discretion of the Company.
New Shares issued under the SPP will rank equally with existing Company Shares from the date of issue.
The full terms and conditions of the SPP are outlined in the SPP offer document attached to this announcement ( Offer Document ).
Application details are available on www.computersharecas.com.au/htg where Eligible Shareholders can review the terms of the SPP and retrieve their personalised details to make payment.
Eligible Shareholders who have not provided an email address will receive a letter via post with instructions on how to access their online application form and Offer Document (as recorded by Computershare on the Record Date).
The SPP is expected to close at 5.00pm (AWST) on Monday August 7, 2023, subject to the Company’s discretion to amend these dates by making an ASX announcement in accordance with the ASX Listing Rules.
Ground Floor, 16 Ord Street West Perth WA 6005 P: +61 8 9482 0500
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ABN: 77 149 970 445
Not for release to US wire services or distribution in the United States.
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Announcement to ASX ASX Code: HTG
Key Dates
Indicative timetable for the SPP:
| Event | Indicative date |
|---|---|
| SPP Record Date_(date of eligibility to participate in the_ SPP) |
Monday July 10, 2023 @ 5.00pm AWST |
| Announcement of SPP | Tuesday July 11, 2023 |
| ASX lodgement of SPP Offer Document and Letter to Eligible Shareholders |
Monday July 17, 2023 |
| SPP opens | Monday July 17, 2023 |
| Dispatch of Letter to Eligible Shareholders | Monday July 17, 2023 |
| SPP closes | Monday August 7, 2023 @ 5.00pm AWST |
| Announcement of SPP results | Friday August 11, 2023 |
| Application for quotation of New Shares | Friday August 11, 2023 |
| Issue of New Shares | Friday August 11, 2023 |
| Commencement of trading of New Shares | Monday August 14, 2023 |
The timetable is indicative only and is subject to change. The Company reserves the right to amend any or all these events or cancel the SPP at any time before New Shares are issued, subject to compliance with the Corporations Act 2001 (Cth), ASX Listing Rules, and other applicable laws. All times and dates are in reference to Western Australia time (AWST).
Harvest encourages Eligible Shareholders who wish to participate to act promptly in submitting their application forms. The Company reserves the right to close the SPP early, in its sole and absolute discretion, should it be considered necessary to do so, by making an announcement to the ASX. The commencement of trading and quotation of New Shares under the SPP is subject to ASX confirmation.
Use of Funds
The proceeds from the SPP are intended to be used to fund the continued growth of the Company as well as for general working capital requirements and the costs of the Placement and SPP. For further details, please refer to the Offer Document.
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This announcement was authorised for release by the Board of Directors.
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Ground Floor, 16 Ord Street West Perth WA 6005 P: +61 8 9482 0500
ABN: 77 149 970 445
Not for release to US wire services or distribution in the United States.
==> picture [84 x 96] intentionally omitted <==
Announcement to ASX ASX Code: HTG
Corporate & media enquiries, please contact:
Mr. Paul Guilfoyle Group Chief Executive Officer, Harvest Technology Group Limited Tel: +61 8 6370 6370 Email: [email protected]
Investor enquiries, please contact:
Mr. Jack Rosagro Company Secretary Tel: + 61 8 9482 0511 Email: [email protected]
Investor Hub
Join the Company’s investor hub to access the latest information: https://investorhub.harvest.technology/auth/signup
About Harvest Technology Group
Harvest Technology Group Limited (ASX: HTG) is a global leader in network optimised remote operations that deliver real-time remote control, communication, automation, and monitoring capabilities. Headquartered in Perth, Australia, the group of companies is revolutionising remote field services with ultra-low bandwidth Network Optimised Livestreaming solutions that enable customers to stay connected to operations and personnel anywhere in the world while utilising just a fraction of existing bandwidth resources.
To learn more please visit: https://harvest.technology/
If you would like to receive the HTG Insights Newsletter for future updates, please visit our website and subscribe at the bottom of the page.
IMPORTANT NOTICE AND DISCLAIMER
This announcement is not a financial product or investment advice, a recommendation to acquire securities or accounting, legal or tax advice. It does not constitute an invitation or offer to apply for securities. It has been prepared without taking into account the objectives, financial or tax situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek legal and taxation advice appropriate for their jurisdiction. Harvest is not licensed to provide financial product advice in respect of an investment in securities.
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Ground Floor, 16 Ord Street West Perth WA 6005 P: +61 8 9482 0500
ABN: 77 149 970 445