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SCHOOLBLAZER LIMITED — Capital/Financing Update 2021
May 11, 2021
65751_rns_2021-05-11_06bffffb-a5cd-4d27-b0d4-5f7989d78a6a.pdf
Capital/Financing Update
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12 May 2021
Company Announcements Office Australian Securities Exchange Authorised by the Board for immediate release
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SHARE PURCHASE PLAN CLOSES SIGNIFICANTLY OVERSUBSCRIBED
HGL Limited ACN 009 657 961 (ASX: HNG) ( HGL or the Company ) today announces the completion of the Share Purchase Plan, which targeted an amount of $1.0 million at an offer price of $0.20 per share.
The SPP closed on 7 May 2021, with applications in excess of $2.3 million received.
The board has determined that a scale back to the SPP will be undertaken, based on eligible shareholding as of the record date of 19 March 2021, and in accordance with the following table:
| Shareholding | on 19 | March 2021 | Entitlement under scale back |
|---|---|---|---|
| 1 | - | 5,000 | Lesser of application or $1,000 |
| 5,001 | - | 25,000 | Lesser of application or $5,000 |
| 25,001 | - | 50,000 | Lesser of application or $10,000 |
| 50,001 | - | 75,000 | Lesser of application or $15,000 |
| > | 75,000 | Lesser of application or $20,000 |
After scale back as per above, the SPP will raise $1.24 million, and result in the issuance of 6,200,000 shares. These shares are expected to be issued on Friday 14 May 2021.
Shareholders who have had acceptances scaled back will have monies refunded to them by Wednesday 19 May 2021. To ensure the receipt of any refunds due, shareholders are encouraged to provide their nominated Australian bank account details by 5:00pm (AEST) on 13 May 2021. For Issuer Sponsored holders, should you wish to update your Australian direct credit instruction, this can be done online at www.computershare.com.au/easyupdate/HNG. Alternatively, you may contact Computershare Registry Services on 1300 850 505. For CHESS Sponsored holders, please contact your broker to update your details.
HGL appreciates the support of shareholders in the company as evidenced by the strong participation in the SPP.
We remind shareholders that results for the 6 months ended 31 March 2021 are expected to be lodged with ASX on Tuesday 25 May 2021.
Iain Thompson CFO & Company Secretary