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HAZER GROUP LIMITED — Capital/Financing Update 2017
Mar 20, 2017
65086_rns_2017-03-20_3ad210fb-d04e-4d52-be83-8ce0dfa77938.pdf
Capital/Financing Update
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Hazer Group Ltd Suite 7, 29 The Avenue, Nedlands, WA 6009 PO Box 1458, West Perth WA 6872
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DISLCOSURES UNDER ASX LISTING RULES 7.1A.4(b) and 3.10.5A
PERTH, 21[st] MARCH 2017: In relation to the issue of 8,333,333 fully paid ordinary shares (Shares) at $0.60 per share and 4,166,167 unlisted options (exercise price $0.70 per share and expiry date of 31 December 2019) (the Placement) advised in the Appendix 3B released to the ASX on 21 March 2017, and in accordance with ASX Listing Rules 7.1A.4(b) and 3.10.5A, Hazer Group Limited (the Company) makes the following disclosures:
(a) The Company issued a total of 8,333,333 fully paid ordinary shares and 4,166,167 unlisted option of which 2,809,286 fully paid ordinary shares were issued under Listing Rule 7.1A and the remaining shares and unlisted options were issued under the Company’s 15% placement capacity under Listing Rule 7.1.
The dilutive effect on existing shareholders of the placement of the Shares under Listing Rule 7.1A is as follows:
| Shares | Dilution | |
|---|---|---|
| Shares on issue prior to the Placement | 64,604,766 | |
| Shares issued under Listing Rule 7.1 | 5,524,047 | 8.55% |
| Shares issued under Listing Rule 7.1A | 2,809,286 | 4.35% |
| Shares on issue following the Placement | 72,938,099 | |
| Total dilution as a result of the Placement of Shares | 12.90% |
(b) The Company issued the Shares as a placement to a single sophisticated strategic investor as this was considered an important strategic development for the Company and the most expedient mechanism for raising the funds required to achieve its stated objectives in a timely manner.
The Company has announced that in conjunction with the Placement it will undertake a Share Purchase Plan ("SPP"). The SPP will be conducted at $0.60 per share being the same price as the Placement. By the SPP, eligible shareholders may apply for up to $15,000 of shares at $0.60 each. The maximum number of shares to be issued under the SPP is 5,000,000 shares, which will represent a raising of $3,000,000. Applications may need to be scaled back. No options will be offered as part of the SPP.
(c) No underwriting agreements were entered into.
(d) No other fees or costs were incurred in connection with the Placement.
The Company also confirms that the Placement issue price of $0.60 per share is higher than 75% of the 15 trading day VWAP immediately before 17th March 2017, the date on which it was agreed to issue the Shares, as required under ASX Listing Rule 7.1A3. The VWAP being $0.614, calculated using data provided to the Company by its share registry.
Emma Waldon, Company Secretary
[ENDS]
WWW.HAZERGROUP.COM.AU
ABOUT HAZER GROUP LTD
Hazer Group Limited (“Hazer” or “The Company”) is an ASX-listed technology development company undertaking the commercialisation of the Hazer Process, a low-emission hydrogen and graphite production process. The Hazer Process enables the effective conversion of natural gas and similar feedstocks, into hydrogen and high quality graphite, using iron ore as a process catalyst.
For further information, investor or media enquires, please contact:
Michael Wills – Hazer Group
Email: [email protected] Phone: 0468 385 208
Hazer Group Limited - Social Media Policy
Hazer Group Limited is committed to communicating with the investment community through all available channels. Whilst ASX remains the prime channel for market sensitive news, investors and other interested parties are encouraged to follow Hazer on Twitter (@hazergroupltd), LinkedIn, Google+ and Youtube.
WWW.HAZERGROUP.COM.AU