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IDENTITII LIMITED — Capital/Financing Update 2023
Sep 4, 2023
65097_rns_2023-09-04_c3fd20c5-9ed6-4977-8f0a-b9f6ac1197ec.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT 5 September 2023
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Rights Issue Closure and Shortfall Notification
5 September 2023 - Identitii Limited (Identitii, Company) (ASX:ID8) advises that its recent Rights Issue closed on 30 August 2023 and raised $1,338,160 before costs, with a shortfall balance of $789,735. The Chairman, Tim Phillipps, and Managing Director, John Rayment, both took up their full entitlements.
The Rights Issue was a pro-rata non-renounceable entitlement issue to eligible shareholders of one (1) New Share for every one (1) existing Share held by eligible shareholders on the Record Date, at an issue price of $0.01 per New Share.
The results of the Rights Issue are as follows:
| Shares | |
|---|---|
| Total Number on Offer: | 212,789,462 |
| Total Number Applied for: | 133,816,009 |
| Shortfall Number: | 78,973,453 |
The Company issued and allotted the 133,816,009 New Shares today and expects the shortfall to be placed subsequently.
Commenting on today’s announcement, CEO John Rayment said: “My sincere thanks to those shareholders who participated in our Rights Issue, and to all our shareholders for their ongoing support. Capital raised via this Rights Issue, together with contracted revenue and surplus Research & Development Tax Incentives (after our R&D loan is repaid), plus further cost reductions will enable the Company to operate into 2024, with expected Shortfall placement further extending this. We will update the market with more information on these various elements in the near future”.
The Shortfall Offer is a separate offer and will remain open for up to three months following the Closing Date. The issue price for each Share to be issued under the Shortfall Offer shall be $0.01, being the price at which Shares were offered under the Rights Issue.
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Identitii Limited ABN 83 603 107 044 388 George St, Sydney, NSW, 2000, Australia www.identitii.com [email protected]
Funds raised under the Rights Issue, after costs, will be used for ongoing marketing and contract negotiation of the AUSTRAC reporting solution, including new SMR functionality, continued development of the Identitii platform, feature development for existing customers and for working capital.
This announcement has been approved and authorised to be given to the ASX by the CEO of Identitii Limited.
Visit Identitii’s interactive Investor Hub: If you have any questions about this announcement or any past Identitii announcements, or would like to see video summaries on important announcements, please visit our investor hub at: investorhub.identitii.com
For more information, please contact:
Investors
Michael Kotowicz E: [email protected] P: +61 416 233 145
About Identitii
Identitii Limited is helping regulated entities reduce their exposure to regulatory risk, without replacing existing technology systems. Founded in 2014 and headquartered in Sydney, Australia, Identitii is listed on the Australian Securities Exchange (ASX:ID8).
For more information visit: www.identitii.com
Forward-Looking Statements
This announcement contains forward-looking statements, which address a variety of subjects including, for example, financial projections, our statements regarding expected events, including expected revenue and earnings, expected product offerings, product development, market adoption and technical advances. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and information currently available to management and are subject to a number of factors and uncertainties, many of which are outside the control of the Company, which could cause actual results to differ materially from those described in the forward-looking statements. The Company's management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as
Identitii Limited
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ABN 83 603 107 044 388 George St, Sydney, NSW, 2000, Australia www.identitii.com [email protected]
of the date they are made. Identitii does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the ASX Listing Rules. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections.
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Identitii Limited ABN 83 603 107 044 388 George St, Sydney, NSW, 2000, Australia www.identitii.com [email protected]