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MAYNE PHARMA GROUP LIMITED — Share Issue/Capital Change 2012
Oct 7, 2012
65396_rns_2012-10-07_e80dde1d-db64-47f9-aae2-0c864c9714ea.pdf
Share Issue/Capital Change
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No:464/12
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ASX Circular
MAYNE PHARMA GROUP LIMITED – ACCELERATED NON RENOUNCEABLE ENTITLEMENT OFFER
Date: 5 October 2012
Key topics
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Mayne Pharma Group Limited
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Accelerated non-renounceable entitlement offer
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ASX Code MYX
Reading List
Client Advisers Compliance Managers DTR Operators Institutions
ASX Settlement Participants Office Managers Operations Managers (back office)
Share Registries Research Analysts ASX Clear Participants Market Participants
Participating Organisations are advised that on 4 October 2012, Mayne Pharma Group Limited (the “Company”) announced that it will undertake a 1 for 1 accelerated nonrenounceable pro rata entitlement offer of ordinary shares at an issue price of $0.20 per share (the “Offer Price”) to raise up to approximately $30.4 million (the “Entitlement Offer”). The Company will also undertake an unconditional placement to institutional investors to raise approximately $9.1 million (the “Unconditional Placement”); a conditional institutional placement to raise $19.0 million; and various other conditional placements to raise up to a total of $6.9 million.
The Entitlement Offer has two components:
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an institutional entitlement offer, where offers have been made to qualifying institutional shareholders for them to apply for their pro-rata entitlement (the “Institutional Entitlement Offer”); and
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a retail entitlement offer, where an offer will be made to qualifying retail shareholders for them to apply for their pro-rata entitlement (“Retail Entitlement Offer”).
The Entitlement Offer is fully underwritten by Credit Suisse (Australia) Limited and UBS AG, Australia Branch.
The Record Date for the Entitlement Offer is Wednesday 10 October 2012.
Authorised by
Dean Litis
Contact
The Retail Entitlement Offer is expected to close on Monday 29 October 2012.
New ordinary shares issued under the Entitlement Offer will rank equally with existing ordinary shares on issue.
Dean Litis
The anticipated timetable in relation to the Entitlement Offer is set out below.
ASX Limited ABN 98 008 624 691 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215
Internet: http://www.asx.com.au
No responsibility is accepted for any inaccuracies contained in the matter published.
ASX Circular
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No:464/12
| Event | Business day | Proposed date |
|---|---|---|
| Trading halt commences Entitlement Offer announced to ASX Institutional Entitlement Offeropens |
0 | Thursday 4 October 2012 |
| Results of Institutional Entitlement Offer announced (before 10am EST) Trading halt lifted |
1 | Monday 8 October 2012 |
| Record date (7pm EST time) | 3 | Wednesday 10 October 2012 |
| Despatch of Retail Offer Booklet and Entitlement and Acceptance Form (and announcement made in this regard) Retail Entitlement Offer opens |
5 | Friday 12 October 2012 |
| Settlement of Unconditional Placement and Institutional Entitlement Offer (using DvP settlement) |
7 | Tuesday 16 October 2012 |
| Issue of New Shares under the Unconditional Placement and Institutional Entitlement Offer Normal trading of New Shares issued under Unconditional Placement and Institutional Entitlement Offer expected to commence |
8 | Wednesday 17 October 2012 |
| Retail Entitlement Offercloses (5pm ESTtime) | 16 | Monday29 October 2012 |
| Announcement of shortfall under Retail Entitlement Offer | 19 | Tuesday 1 November 2012 |
| Settlement of Retail Entitlement Offer | 21 | Monday 5 November 2012 |
| Issue of New Shares under Retail Entitlement Offer (ie the 'Despatch date', as defined by ASX)* |
22 | Wed 7 November 2012 |
| Normal trading of New Shares issued under Retail Entitlement Offerexpected to commence |
23 | Thursday 8 November 2012 |
* Tuesday 6 November 2012 is a non-business on ASX.
Settlement issues
Despite the fact that securities are trading “ex entitlement” on ASX Trade, CHESS will not recognise for settlement purposes the “ex entitlement” or the “cum entitlement” tag on CHESS messages and CHESS will not maintain cum balances during the deemed “CHESS ex-period”, i.e. the period commencing on the deemed CHESS Ex-Date up to and including the record date. However, a record date cum balance will be available the business day following the record date, which will be equal to the registered holding balance at CHESS end of day on the record date. As a result any transfer that occurs prior to record date will be effectively transferred on a “cum” basis.
Therefore, Participants must ensure that any transfer, including the priming of Broker Entrepot Accounts, is conducted in accordance with the basis of quote. For example, a transfer in relation to a transaction conducted on an ex-basis should ordinarily only occur post record date.
CHESS will perform automatic diary adjustments to “cum entitlement” settlement obligations outstanding as at the record date.
Trading issues
ASX will not price a “cum” market with respect to trading in the Company’s securities. Persons who acquire the Company’s securities after the commencement of the trading halt on Thursday 4 October 2012 are not entitled to participate in the Entitlement Offer.
Further information
For further details, please refer to the Company’s recent announcements.
ASX Circular
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