AI assistant
RENT.COM.AU LIMITED — Capital/Financing Update 2018
May 21, 2018
65722_rns_2018-05-21_8ef0764f-a1aa-4efb-8360-cff865decfc8.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX Announcement
22 May 2018
==> picture [126 x 74] intentionally omitted <==
RENT.COM.AU SHARE PURCHASE PLAN CLOSES OVERSUBSCRIBED
Rent.com.au Limited (ASX: RNT ) (“ RENT ” or “ the Company ”), Australia’s Number 1 website dedicated to rental property, is pleased to announce that it has closed the share purchase plan (“ SPP ”) announced on the 1[st] May 2018.
Key Highlights:
-
SPP over-subscribed by more than 50%
-
Raises $500,000 (before costs) in addition to Placement previously announced
-
Transactions allow RENT to accelerate growth as it nears break even
-
Funds RentPay acquisition, marketing and development of new products
Overview
“The level of oversubscription for the share purchase plan is a strong result and indicates to us the high level of support we continue to enjoy from our shareholders,” commented RENT CEO, Greg Bader.
“Together with our recent Placement, which was also well supported by existing shareholders, the funds raised via the SPP accelerates the long-term growth and value of RENT as we expand further into the tenancy period.”
The SPP was offered to enable other existing shareholders to participate in the capital raising at the same pricing as the Placement which raised $2.3 million (before costs). The amount raised under the SPP is capped at $500,000 and the oversubscription of $275,000 will be returned to relevant applicants pro-rata based on the size of the applicants’ respective shareholdings as at 5pm (WST) Monday 30[th] April 2018 (“ Record Date ”).
| Amount | |
|---|---|
| Total value of valid applications received | $775,000 |
| Maximum amount to be raised by SPP | $500,000 |
| Over-subscriptions received | $275,000 |
The remaining Key Dates per the SPP timetable are as follows:
| Date | Details |
|---|---|
| 28 May 2018 | Despatch Date- The date on which holding statements are sent to shareholders. |
| 28 May 2018 | Share Trading Date- The date on which it is expected that shares will commence trading on the ASX. |
==> picture [15 x 15] intentionally omitted <==
ENDS
About rent.com.au
rent.com.au (ASX: RNT) is Australia’s #1 website dedicated to rental property. Our rental only positioning allows RNT to legitimately advocate for renting and renters.
Our Rules
| Renters in Suits | Our renters will always be presented in such a fashion as to maximise their chances of getting the home they want |
|---|---|
| Properties on | We present our properties with additional and |
| Pedestals | relevant information |
| Let’s automate where we can. We can’t remove the need for | |
| Flick the Forms | you to eyeball the property before signing (yet!), but we can |
| remove most of the paperwork |
Our Products
==> picture [98 x 46] intentionally omitted <==
An easy way for a renter to verify their ID and check for any reported breaches in their tenancy history, giving them an edge on their application.
Learn More
==> picture [106 x 51] intentionally omitted <==
==> picture [106 x 49] intentionally omitted <==
A convenience product that helps renters bridge the gap from one rental to another by financing their bond online.
Learn More
A free and easy to use utility connection service to make moving hassle free – ensuring the lights are on and the water is hot when a renter moves in to their new place.
Learn More
Renter (and Pet) Resume
Streamline your rental search with Renter Resume. Create it once and use it to apply for as many properties as you like.
Learn More
==> picture [15 x 15] intentionally omitted <==