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PHOSLOCK ENVIRONMENTAL TECHNOLOGIES LIMITED Capital/Financing Update 2016
65544_rns_2016-06-01_01d667e5-1df8-48c7-80a9-c2ae906ac8e4.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
Thursday 2 nd June 2016
PHK Share Purchase Plan raises $1.56m
The Phoslock Water Solutions Limited (ASX: PHK) Share Purchase Plan closed yesterday, with subscriptions of approximately $1.56m received from 179 shareholders. PHK will issue approx. 22.3 million new shares.
The SPP shares will be allotted on Wednesday 8th June, 2016 and available in shareholders' Computershare accounts from Thursday 9th June 2016.
The net proceeds from the SPP will be used to expand sales and marketing coverage and technical support, increase working capital, including growing inventories, and repay PHK's remaining financial liabilities.
Chairman Laurence Freedman AM commented: "The Board has been delighted with the level of support for the current SPP. While funds subscribed are over 25% greater than the Company's last SPP, the Board wanted to ensure all shareholders were able to participate fully in the future of PHK and therefore has chosen not to undertake any scaling back of applications".
For more information please contact:
Mr Laurence Freedman AM Mr Robert Schuitema Chairman Managing Director Phone: 8999 1999 Phone: 8014 7611
Michael Kotowicz Wentworth Place Group Phone: 0416 233 145
| ASX Code: | PHK |
|---|---|
| Share Price: | A$0.075 |
| 52 Week High:52 Week Low: | A$0.095A$0.022 |
| Issued Shares: | 311.2m |
| Market Cap: | A$23.3m |
| Address: | |
| Suite 40325 Lime StreetSydney NSW 2000 | |
| Phone:+61 2 8014 7611Email: [email protected] | |
www.phoslock.com.au www.phoslock.eu www.phoslock.com.br www.phoslock.cn
Phoslock BLOG on Water Issues: www.phoslock.com.au
PHOSLOCK WATER SOLUTIONS LIMITED (PHK)
PHK produces PHOSLOCK, a patented technology which was developed by the Commonwealth Scientific and Industrial Research Organisation ("CSIRO"). PHK has lodged a subsequent patent application to protect the core PHOSLOCK technology which is in an advanced stage of being granted in some 50 countries (including China), in order to extend the core PHOSLOCK technology to 2033**.**
PHK is headquartered in Sydney, Australia and has offices in Brisbane, Shanghai & Sichuan, China and Bremen, Germany covering Europe and South America. PHK is represented by licensees, distributors and agents in ten other countries including SePRO Corporation (www.sepro.com) in the United States.
PHK recently signed an agreement with the Shenzhen Stock Exchange listed Xingyuan Environmental Technology Co Ltd, (www.xingyuan.com) which covers working jointly on lake, river and canal remediation projects across China.
PHOSLOCK is a certified NSF/ANSI Standard 60 product - North American Drinking Water (see websites ansi.org and scc.ca). This certification enables Phoslock to be applied to water bodies used for human consumption.
Phoslock Water Solutions Limited is listed on the Australian Stock Exchange (ASX Code: PHK).
For more information about Phoslock Water Solutions and PHOSLOCK please visit our websites: www.phoslock.com.au or www.phoslock.eu (Spanish, Italian, Dutch and German) or www.phoslock.com.br (Portuguese) or www.phoslock.cn (Chinese).
Phoslock BLOG on Phoslock news and current Water Issues – see www.phoslock.com.au and look for Phoslock BLOG icon in top right corner of the Home Page.
ABOUT PHOSLOCK – the Product
PHOSLOCK is a unique water treatment product that binds phosphorus in water bodies such as lakes and dams. It provides a protective permeable layer to sediments, permanently preventing the re-release of phosphorus.
Retention of phosphorus reduces the level of algae by depriving it of nutrients. This in turn improves water quality, both for human use and aquatic life as well as preventing and controlling Harmful Algal Blooms (HAB).
PHOSLOCK is primarily used as an in-water solution for lakes, drinking water reservoirs and other recreational water bodies. It is also used as a preventative product to absorb phosphorus before it
is transported into water bodies by being applied in storm water basins and inflow channels, rivers and canals.
PHOSLOCK is approved for use in North American Drinking Water Reservoirs via NSF/ANSI Standard 60 Certification. This certifies that PHOSLOCK is safe for use in drinking water.
PHOSLOCKhas been used on many of high profile water bodies in Europe/UK, North America and Australia. To date over 250 initial and follow-up applications have been successfully made.
Over 40 peer reviewed scientific and technical papers, have been published on PHOSLOCK in leading scientific journals. For access: www.phoslock.com.au