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HAZER GROUP LIMITED — Capital/Financing Update 2021
Sep 12, 2021
65086_rns_2021-09-12_b7894100-6fda-4b4a-8a8f-6ba7fb967df2.pdf
Capital/Financing Update
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Hazer Group Limited (ACN 144 044 600) Level 9, 99 St Georges Tce, WA 6000 PO Box Z5511, St Georges Tce, Perth, WA 6831
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HAZER COMPLETES $7M PLACEMENT AND ANNOUNCES $7M SHARE PURCHASE PLAN
PERTH, AUSTRALIA; 13 SEPTEMBER 2021 : Hazer Group (ASX: HZR) ( Hazer or the Company ) is pleased to announce that it has received binding commitments from institutional and sophisticated investors to successfully raise gross proceeds of $7,000,000.32 ( Placement ).
The Company is also pleased to announce an invitation for eligible shareholders to participate in a share purchase plan to subscribe for additional ordinary shares in Hazer ( SPP ) up to a total of $7 million.
Placement Details
The Placement will result in the issue of 7,608,696 new fully paid ordinary shares at an issue price of $0.92 to raise $7,000,000.32 (before costs).
The net proceeds from the Placement will be used to support and expand our business development activities to take advantage of the high global interest in technologies such as the Hazer Process, to enhance our ongoing research and development programs, particularly with respect to applications for our graphite advanced carbon material, and general working capital.
Settlement of the Placement is expected to occur on Friday 17 September 2021, with issue and trading of Placement shares expected to commence on Monday 20 September 2021.
The Placement represents the amount allowable within Hazer’s placement capacity under ASX Listing Rule 7.1 and will not require shareholder approval.
Tim Goldsmith, Chairman of Hazer, commented: “We are delighted to have secured the support of new institutional and sophisticated investors, as well as the ongoing support of existing shareholders. We have an exciting program of activities ahead for the Company in 2021 and 2022 with the completion of the Hazer Commercial Demonstration Project ( CDP ) in Q1 2022. This remains a key milestone to advance Hazer into the next stage of our development. There is enormous demand for emerging technologies such as the Hazer Process and we are committed to ensuring we position Hazer to capture this. Our business development activities and R&D Program are both targeted to meet this growing global demand. We are delighted to welcome the new shareholders onto the register.
Viriathus Capital Pty Ltd acted as Lead Manager to the Placement.
Share Purchase Plan Details
The right to participate in the SPP is optional, and it is available exclusively to shareholders who are registered as holders of fully paid ordinary shares in the capital of Hazer (“ SPP Shares ”) at 4:00 p.m. (WST) on 10 September 2021 ( Record Date ), and whose registered address is in Australia and New Zealand (“ Eligible Shareholders ”).
The SPP entitles Eligible Shareholders, irrespective of the size of their shareholding, to purchase up to $30,000 worth of SPP Shares at an issue price of $0.92 per SPP Share (being the same price as under the Placement) free of brokerage and commission (“ SPP Offer ”) (subject to scale-back by the Company in accordance with the terms of the SPP Offer).
The issue price represents a discount of 14.42 % to the last traded price of $1.075 and a discount of 16.52% to the average market price of the Company’s shares on the ASX during the five trading days immediately prior to the announcement date of the SPP Offer.
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The SPP Shares issued under the SPP Offer will rank equally with existing ordinary shares of the Company. Shareholder approval is not required for the SPP. The terms and conditions of the SPP will be contained in an offer booklet and application form, which will be despatched to Eligible Shareholders on or around 17 September 2021. A copy of the offer booklet and application form will also be lodged on the ASX on the same date.
The SPP will be capped at a maximum of $7,000,000.32 or 7,608,696 shares and will close as soon as the maximum amount has been received. When the SPP opens on 17 September 2021 ( SPP open date ), all eligible Shareholders will be able to access the SPP offer booklet and complete the application and payment process for New Shares on the share register website using the QR Code below.
The share register SPP website will not be available to access before the SPP open date and will be closed once SPP closes.
Those eligible shareholders who have chosen to use mail as their preferred form of communication with the share register will be mailed the SPP offer booklet on 17 September 2021.
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The proposed key dates for the SPP are outlined below, however, the Directors reserve the right to vary the dates and times without notice.
| SPP Record Date | 10 September 2021 |
|---|---|
| Announcement of SPP and lodgement of Appendix 3B |
13 September 2021 |
| Issue of SPP offer booklet | 17 September 2021 |
| SPP opens | 17 September 2021 |
| SPP closes | 15 October 2021 |
| Last day to announce results of SPP, issue SPP Shares, and lodge Appendix 2A |
22 October 2021 |
For further information, please contact:
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Romolo Santoro
Company Secretary [email protected]
This announcement was authorised for release by the Board of Hazer Group Ltd.
[ENDS]
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Forward Looking Statements
This announcement may contain certain “forward looking statements” which may not have been based solely on historical facts, but rather are based on the Company’s current expectations about future events and results.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially to futures results expressed, projected or implied by such forward looking statements.
The Company does not undertake any obligation to release publicly any revisions to any “forward looking statements” to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under the applicable securities laws.
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 methane feedstocks, into hydrogen and high quality graphite, using iron ore as a process catalyst.
For further information or investor enquiries, please contact:
Geoff Ward
Email: [email protected] Phone: +61 8 9329 3358
For media enquiries, please contact:
Kirsty Collins
Email: [email protected] Phone: +61 473 915 763
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.
Subscribe to HAZER NEWS ALERTS - visit our website at www.hazergroup.com.au and subscribe to receive HAZER NEWS ALERTS, our email alert service. HAZER NEWS ALERTS is the fastest way to receive breaking news about @hazergroupltd.
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