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IMEXHS LIMITED — Capital/Financing Update 2009
Dec 17, 2009
65120_rns_2009-12-17_1be86997-8a06-452f-8c82-cee1bcbb77e6.pdf
Capital/Financing Update
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Solverdi Worldwide Limited ABN60 096 687 839 ASX:SWW
Level 5, Nexus Building, 4 Columbia Court
BAULKHAM HILLS NSW 2153
Phone - 02 8860 6488 Fax - 02 8860 6464 [email protected]
18 December 2009
Manager of Company Announcements ASX Limited Level 6 20 Bridge Street SYDNEY NSW 2000
Dear Sir
SOLVERDI 2009 SHARE PURCHASE PLAN
Solverdi Worldwide Limited ( Solverdi or the Company ) is pleased to announce the terms of an offer to eligible shareholders of the Company to subscribe for fully paid new ordinary shares in the capital of Solverdi ( SPP Shares ) at A$0.098 per share under a share purchase plan ( SPP ). The SPP will provide eligible shareholders with an opportunity to purchase shares in the Company without incurring brokerage or other transaction costs.
Under the SPP, Solverdi will issue up to a maximum of 25,000,000 Shares to raise up to approximately A$2,450,000.
Solverdi intends to use the proceeds raised from the 2009 SPP to fund capital expenditure and associated operating costs related to contract commitments that have been received by Solverdi to date.
Each Solverdi shareholder with a registered address in Australia and New Zealand who holds shares at the record date of 18 December 2009 will be entitled to acquire up to A$15,000 worth of Shares in the Company which will rank equally in all respects with the existing fully paid ordinary shares.
If subscriptions under the SPP exceed 25,000,000 SPP Shares, the Company intends to scale back the number of SPP Shares issued to each applicant. However, the Board has retained the discretion, if applications exceed 25,000,000 Shares, to increase the maximum number of Shares to be issued under the 2009 SPP (subject to a cap of 30% of its issued share capital at the date of issue of the SPP Shares). If applications are scaled back, any excess application monies will be refunded without interest.
Shareholder approval is not required for the issue of Shares to shareholders under the SPP.
The SPP documentation will be posted to eligible shareholders on or around 24 December 2009 together with an Application Form. Shareholders will need to complete and return the Application Form by 5.00pm on 22 January 2010 in order to take up shares under the SPP.
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Shareholders should consider all of the SPP documentation, including the SPP Terms and Conditions, before deciding whether to participate in the offer.
Important Dates
| Record date for determining entitlements under SPP | 5.00pm (Sydney time) on18 December 2009 |
|---|---|
| SPP documents despatched to eligible Solverdi shareholders | 24 December 2009 |
| SPP offer opens | 24 December 2009 |
| SPP offer closes | 5.00pm (Sydney time) on22 January 2010 |
| SPP Shares allotted | 29 January 2010 |
| Despatch of holding statements to shareholders | 3 February 2010 |
The dates in the table above are indicative only and Solverdi may amend this timetable. Solverdi may also withdraw the offer of new shares under the SPP at any time before the allotment date in its absolute discretion.
Further information
For further information please contact Edwin Fernandes of Martin Place Securities on (02) 9222 9111.
Yours faithfully
Denis M Danzik
Chief Executive Officer Managing Director
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