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Slovar Limited — Capital/Financing Update 2011
Feb 21, 2011
17773_rns_2011-02-21_cce9337b-88d8-4bcd-b129-3b07072d7bd0.pdf
Capital/Financing Update
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MONEY3
MONEY3 Corporation Limited Unit 4, 60 – 70 Mahoneys Rd Thomastown Vic 3074 – Tel: (03) 9469 8200 Fax: (03) 9460 8300
22 February 2011
Announcement of Non Renounceable Rights Issue and Notification Under Section 708AA of the Corporations Act
Money 3 is pleased to announce a one for 3 non renounceable pro rata entitlement issue (Right Issue). The Rights Issue will be available to holders of shares in the Company with a registered address in Australia and New Zealand as at 2 March 2011 (Record Date)
The Rights Issue is fully underwritten by Bell Potter Securities Limited.
Under the Rights Issue the Company will issue 10,658,994 fully paid ordinary shares in the Company at an issue price of $0.37 per new share.
The Company will raise $3,943,828 (before costs) under the Rights Issue.
The Right Issue will be made pursuant to section 708AA of the Corporations Act and accordingly, a prospectus will not be lodged with the Australian Securities & Investments Commission, although an Offer Document will be made available to eligible holders.
The Offer Document sets out the full details of the Offer and will be despatched to eligible holders in accordance with the below timetable.
Eligible holders should review the Offer Document and seek advice before deciding to participate in the Rights Issue.
Moneys raised under the Right Issue will be utilised as follows:
- to reduce the current overdraft debt
- repay various loan funds
- provide capital for further branch expansion
- provide capital for further loan centre expansion and
- fund potential acquisition opportunities
The number of Shares currently on issue is 31,976,983.
Total number of new shares to be issued under the Rights Issue is 10,658,994.
Total number of shares on issue following completion of the Rights Issue will be 42,635,977.
Dividend Participation Rights
MONEY3 Corporation Limited
ABN: 63 117 296 143
Registered Office: Unit 4, 60–70 Mahoneys Rd Thomastown Vic 3074
MONEY3
MONEY3 Corporation Limited Unit 4, 60 – 70 Mahoneys Rd Thomastown Vic 3074 – Tel: (03) 9469 8200 Fax: (03) 9460 8300
New shares issued under the Rights Issue will not be eligible to participate in any dividend declared for the six ending December 2010. A separate announcement in relation to the Dividend and entitlement will be made with the half year announcement
Proposed Timetable
| (a) | Announcement of Issue (prior to commencement of trading) | Tuesday 22 February 2011 |
|---|---|---|
| (b) | Application to ASX for official quotation of the New Shares (prior to commencement of trading) | Tuesday 22 February 2011 |
| (c) | Lodgement of Offer Document with ASX (prior to commencement of trading) | Tuesday 22 February 2011 |
| (d) | Despatch of notice to shareholders informing them of the Rights Issue and notify ASX of despatched | Wednesday 23 February 2011 |
| (e) | “Ex” Date (i.e date from which securities commence trading without the entitled to participate in the Rights Issue | Thursday 24 February 2011 |
| (f) | Record Date (i.e. date for determining entitlement to participate in the Rights Issue | Wednesday 2 March 2011 |
| (g) | Offer opens dispatch of Offer Document | Tuesday 8 March 2011 |
| (h) | Closing Date for acceptance and payment of $0.37 cents per new share | Wednesday 23 March 2011 |
| (i) | Trading commences on a deferred settlement basis | Thursday 24 March 2011 |
| (j) | Notify ASX of shortfall | Monday 28 March 2011 |
| (k) | Statements for new shares despatched | Thursday 31 March 2011 |
| (l) | Trading of new share expected to commence | Friday 1 April 2011 |
This timetable is indicative and subject to change in consultation with ASX.
The Directors reserve the right not to proceed with the Rights Issue in which case any application money received will be refunded.
MONEY3 Corporation Limited
ABN: 63 117 296 143
Registered Office: Unit 4, 60–70 Mahoneys Rd Thomastown Vic 3074
MONEY3
MONEY3 Corporation Limited Unit 4, 60 – 70 Mahoneys Rd Thomastown Vic 3074 – Tel: (03) 9469 8200 Fax: (03) 9460 8300
Cleansing Notice under section 708AA
In making the Rights Issue, the Company relies on section 708A(5) of the Corporations Act and the Company hereby gives notice pursuant to section 708A(5)(e).
(a) The Company will offer the new shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) ("Act").
(b) As at the date of this notice, the Company has complied with:
(i) The provisions of chapter 2M of the Act as they apply to the Company;
(ii) Section 674 of the Act.
(c) As at the date of this notice, there is no information that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules.
If you have any queries in relation to the Rights Issue please contact:
Craig Harris
CFO and Company Secretary
Money3 Corporation Limited
03 9468 8241 or [email protected]
MONEY3 Corporation Limited
ABN: 63 117 296 143
Registered Office: Unit 4, 60–70 Mahoneys Rd Thomastown Vic 3074