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SCHOOLBLAZER LIMITED — Capital/Financing Update 2020
May 12, 2020
65751_rns_2020-05-12_9464fba5-b139-4053-b0dc-70753ceb0a33.pdf
Capital/Financing Update
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13 May 2020
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Company Announcements Office Australian Securities Exchange Authorised for immediate release
COMPLETION OF RETAIL ENTITLEMENT OFFER
HGL Limited ACN 009 657 961 (ASX: HNG) ( HGL or the Company ) today announces the completion of the retail component of its 5 for 16 accelerated pro-rata non-renounceable entitlement offer of new fully paid ordinary shares in HGL at an offer price of $0.20 per new share, details of which were announced on 14 April 2020 ( Retail Entitlement Offer ).
The Retail Entitlement Offer closed on 8 May 2020. Under the Retail Entitlement Offer, 3,137,102 HGL shares will be issued at a price of $0.20 per share to raise approximately $552,000 (before transaction costs). This represents a total take-up rate by eligible retail shareholders of approximately 34.5% of their pro rata entitlement which includes a take-up of shares under the overallotment facility.
The accelerated component of the Entitlement Offer was fully subscribed and closed, the outcome of which was announced to the market on 17 April 2020.
New HGL shares will be issued under the Retail Entitlement Offer on 15 May 2020 and are expected to commence trading on the ASX on a normal settlement basis on 18 May 2020.
Iain Thompson CFO & Company Secretary
About HGL Ltd
HGL is an investment company which invests in small to medium size businesses with a sustainable competitive advantage and strong growth prospects, providing them with specialist business management skills and equity capital to leverage these growth opportunities. Our core purpose is to create shareholder value through active long-term ownership in our portfolio businesses, driving sustainable growth through a strong focus on customers and employees.