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RANGE INTERNATIONAL LIMITED — Capital/Financing Update 2020
Jan 8, 2020
65662_rns_2020-01-08_5ba6fab4-8ee6-4e49-8273-ca377270f4a4.pdf
Capital/Financing Update
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ASX Announcement
(ASX:RAN)
9 January 2020
Completion of Share Purchase Plan
Range International Limited (“Range” or the “Company”) has successfully completed its Share Purchase Plan (“SPP”). The SPP provided eligible shareholders the opportunity to participate in capital raise activities following the successful completion of a conditional placement (“Placement”) in December 2019 which was approved by shareholders at an Extraordinary General Meeting held on 6 January 2020.
The SPP closed at 5.00pm (AEDT) on Monday 6 January 2020. Applications for approximately 81,746,667 of new fully paid ordinary shares were received.
The SPP was oversubscribed by eligible shareholders and Range received applications and monies in excess of A$1.2 million under the SPP. Consequently, in accordance with the terms and conditions of the SPP, the Company will scale back the allotment of new shares under the SPP to A$0.9 million on a pro-rata basis across all eligible SPP applicants and return monies to eligible SPP applicants.
The total amount raised under the Placement completed in December 2019 (refer to ASX announcement dated 5 December 2019) and the SPP is approximately A$2.4 million.
Successful eligible SPP applicants will be issued new shares at A$0.015 per share representing a 16.7% discount to the volume weighted average price of ordinary shares traded on the ASX over the five trading days before the day on which the issue was announced.
The new shares under the SPP and Placement are expected to be issued on 14 January 2020, with holding statements expected to be despatched on 15 January 2020.
The Company would like to express its appreciation to all eligible shareholders who participated in the SPP and the Placement and thank shareholders for their continued support.
This announcement was authorised to be given to the ASX by the Executive Chairman.
RANGE INTERNATIONAL LTD ACN 611 998 200 | Level 12, 680 George Street Sydney, NSW 2000 | www.rangeinternational.com
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About Range International:
Range is a manufacturer of plastic pallets, trading as Re>Pal™. Our ThermoFusion™ technology allows Re>Pal™ to make ‘zero waste’, 100% recycled and recyclable plastic.
Range currently has production lines operating in its East Java factory in Indonesia and sells its pallets under the brand Re>Pal™, supplying pallets into Indonesia and across Asia/ globally.
For more information about this announcement please contact: Stephen Bowhill [email protected] or +61403852734 Richard Jenkins [email protected]
RANGE INTERNATIONAL LTD ACN 611 998 200 | Level 12, 680 George Street Sydney, NSW 2000 | www.rangeinternational.com