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POINTERRA LIMITED — Capital/Financing Update 2014
Feb 17, 2014
64255_rns_2014-02-17_98ad5681-ff99-4a25-92d5-f5ab9d0e74ae.pdf
Capital/Financing Update
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ASX:SOI
18 February 2014
Submit by fax or electronically
Company Announcements Office ASX Limited Exchange Plaza 2 The Esplanade Perth, WA. 6000
Dear Sir/Madam,
SOIL SUB TECHNOLOGIES LIMITED (ASX: SOI) – CAPITAL RAISING
The Company wishes to announce the successful completion of a capital raising for a total of $853,000 comprising of:
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$190,000 via the issue of 19 convertible notes; and
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$663,000 via placement of shares (with one for one free attaching option exercisable at $0.005 expiring 30 November 2015 to be issued with shareholder approval at the Company’s next General Meeting).
190,000,000 shares and 95,000,000 options were issued from receipt of conversion notices from selected note holders per resolution 3 of Notice of Meeting for AGM held 29 November 2013.
Information required under ASX Listing Rule 3.10.5A
The Company provides the information as required under ASX Listing Rule 3.10.5A as follows:
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(a) Dilution to existing shareholders as a result of the issue:
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Under Listing Rule 7.1 is 9.0%
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Under Listing Rule 7.1A is 4.5%
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The total dilution to existing shareholders as a result of the placement is therefore 13.5 %.
- (b) the approximate percentage of the issued capital post the 7.1A placement held by the pre-placement security holders and new security holders are as follows:
| Pre-placement securityholders who didnotparticipate in theplacement | 96.0% |
|---|---|
| Pre-placement securityholders who did participatein theplacement | 2.7% |
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| Participants in theplacement who were notpreviouslysecurityholders | 1.3% |
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(c) The Company issued shares under Listing Rule 7.1A to current existing and new sophisticated investors of the Company as it was considered to be a more expedient method for raising funds in the current market environment. In addition this placement allowed new investors to be introduced to the Company.
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(d) The allocation of shares under the placement were made with RM Corporate Finance Pty Ltd acting as lead manager.
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(e) No underwriting agreements were in place for the placement.
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(f) Commission for the placement is 6% (plus GST) of the total funds raised.
Information under section 708(5)(e) of the Corporations Act
The Company gives this notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (“ Act ”) and advises that the Shares were issued without disclosure to investors under Part 6D.2 of the Act. The Company, as at the date of this notice, has complied with:
- (a) the provisions of Chapter 2M of the Act as they apply to the Company; and (b) section 674 of the Act.
As at the date of this notice there is no information that is excluded information for the purposes of sections 708A(7) and (8) of the Act.
Loan Funds and Company Update
The Company advises that it has advanced an additional total of A$214,300 in loan funds to Platinum JV Developments Sdn Bhd (“Platinum JV Developments”).
The Company is working with its Malaysian and Australian based consultants to secure an option to acquire a Malaysian based company that is proposing to enter the Malaysian property market.
The Company will continue to advise the market in line with its continuous disclosure requirements under ASX Listing Rule 3.1.
Yours Sincerely
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Keong Chan Company Secretary