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ROOLIFE GROUP LTD — Capital/Financing Update 2020
Oct 5, 2020
65712_rns_2020-10-05_3038d103-ecad-4b2b-b8f7-d6ee083d70e8.pdf
Capital/Financing Update
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6 October 2020
Entitlement Issue and Shortfall Offer Fully Subscribed
e-Commerce and digital marketing company RooLife Group Ltd ( ASX: RLG ) (“ RooLife Group ” or the “ Company ”) is pleased to advise that its Entitlement Issue and Shortfall Offer has closed fully subscribed and provides the following summary of subscriptions:
| No# of Shares | $ | |
|---|---|---|
| Number of Entitlements under the Entitlement Issue | 183,084,035 | 5,492,521 |
| Number of Shares and Additional Securities taken up byEligible Shareholders | 54,152,489 | 1,624,574 |
| Shortfall of Entitlement Issue | 128,931,546 | 3,867,946 |
The Company is pleased to advise that applications for the full extent of the Shortfall Offer have been received. The Company and its Lead Manager Sequoia Corporate Finance Pty Ltd will complete the allocation process, with the Shortfall Shares to be issued in the coming week.
The new Shares and Options under the Entitlement Offer will be issued and allotted no later than Thursday 8 October 2020.
The Board is pleased with the outcome of the capital raising with total funds raised under the initial placement, Entitlement Issue and Shortfall offer being $6,258,918 before costs. The Company is now fully funded to implement its strategy of expansion of its online marketing to continue its international expansion and to apply its successful formula to expand the marketing of its services and sale of products online into China.
The Company will also apply funds to continue the development and marketing of its mobile shopping environment which incorporates the Alipay mobile payment platform allowing Australian and International businesses to market their products to Chinese shoppers and easily process payments.
ENDS
Issued by : RooLife Group Ltd Authorised by: The Board of RooLife Group Ltd
For further information, please visit the RooLife website at www.roolifegroup.com.au or contact:
| Bryan CarrManaging DirectorPh: +61 8 6444 1702Email: [email protected] | Peter NesvedaCorporate Affairs & InternationalInvestor RelationsPh: +61 412 357 375[email protected] |
|---|
About RooLife Group Ltd (ASX:RLG)
The RooLife Group of companies provides fully integrated digital marketing and customer acquisition services focusing on driving online sales of products and services for its clients. Powered by the Group’s hyper personalisation and profiling Artificial Intelligence System, RooLife provides personalised real-time, targeted marketing. With a key focus on driving sales in Australia and China the company’s online e-Commerce marketplace assists businesses to sell directly to Chinese consumers and accept payment via the WeChat and Alipay mobile payments platforms. RooLife’s key positioning is about knowing and remaining connected with Chinese consumers, allowing brands to continually sell products to Chinese consumers based on their profiles and purchasing behaviours.