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INVION LIMITED — Capital/Financing Update 2017
Apr 20, 2017
65148_rns_2017-04-20_200683a3-4987-47f8-8c7f-8dcb73b52761.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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21 April 2017
INVION – ADDITIONAL PLACEMENT DETAILS AS REQUIRED UNDER LISTING RULE 3.10.5A
On 18 April 2017, Invion Limited (ASX:IVX) announced it had entered into a definitive private placement agreement to issue 218,894,024 fully paid ordinary shares to a professional investor at $0.003 per share raising $656,682 before costs of the issue ( Placement ). The Placement proceeds will be payable to Invion in two tranches with $100,000 paid immediately and the balance of $556,682 to be paid by 15 June 2017. Shares will be issued upon the receipt of Placement funds.
In accordance with Listing Rule 3.10.5A, Invion advises as follows in relation to the Placement:
- a. The dilution to existing shareholders as a result of the Placement under Listing Rule 7.1A is 2.62%. Further details of the approximate percentage of the issued capital post the Listing Rule 7.1A Placement held by the pre-Placement security holders and new security holders are as follows:
| Number of fully paid ordinary shares on issue priorto Placement | 1,237,071,273 |
|---|---|
| Number of fully paid ordinary shares issued underLR 7.1A to new security holders | 33,333,333 |
| Number of fully paid ordinary shares issued underLR 7.1A to pre-Placement security holders | 0 |
| Total number of fully paid ordinary shares on issuepost-Placement | 1,270,404,606 |
| Dilution resulting from issue under LR 7.1A | 2.62% (calculated as 33,333,333/1,270,404,606) |
| Percentage of post-Placement fully paid ordinaryshares held by pre-Placement security holders | 97.38% (calculated as 1,237,071,273/1,270,404,606) |
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b. As detailed in the announcement to market, the Placement forms part of the strategic alliance with the investor which represents an opportunity for Invion to expand its business and develop its asset pipeline through the identification and in-licence of new advanced clinical opportunities.
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c. No underwriting agreements were in place for the Placement.
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d. Apart from non-material legal costs, there are no other costs associated with the issue.
For and on behalf of the Board of Invion Limited
Melanie Farris COMPANY SECRETARY
Invion Limited ABN 76 094 730 417
GPO Box 1557, Brisbane, QLD, 4001. P +61 7 3295 0500 F +61 7 3295 0599 www.inviongroup.com