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Slovar Limited — Capital/Financing Update 2020
Dec 6, 2020
17773_rns_2020-12-06_39fa4034-478f-41f3-b17a-030a138fc7fd.pdf
Capital/Financing Update
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money3
MONEY3 RECEIVES COMMITMENTS FOR $45M AND LAUNCHES $5M SHARE PURCHASE PLAN
ASX RELEASE
7 DECEMBER 2020
Money3 Corporation Limited (ASX: MNY, "Money3" or the "Company") is pleased to announce that it has received commitments for $45m through the placement ("Placement") of 16,666,698 new ordinary shares at $2.70 per share. The Company will utilise its placement capacity under ASX Listing Rule 7.1.
The Company will also undertake a non-underwritten Share Purchase Plan ("SPP") targeting to raise up to $5m.
Under the SPP, the Company will offer each eligible Shareholder the opportunity to apply for up to 11,100 new ordinary shares at the Placement issue price of $2.70 each, being the same price as the issue of shares under the Placement and representing a 8.8% discount to the closing price of the Company's securities on 2 December 2020.
Eligible Shareholders will be those registered as MNY shareholders as at 7.00pm on 4 December 2020 who have a registered address and are resident in Australia or New Zealand and are not in the United States or acting for the account or benefit of any person in the United States or otherwise excluded from participating.
Funds raised from the Placement and SPP will be used to fund the acquisition of Automotive Financial Services Pty Ltd (AFS) (as announced on 3 December) and loan book growth in Australia and New Zealand.
Depending on the level of demand under the SPP the Company may decide to scale back applications, or raise an amount up to $7 million, at its absolute discretion. The Company reserves the right to scale back pro rata applications for SPP shares to any extent in its absolute discretion. However, the Board will endeavour to grant each subscriber the minimum subscription amount of 400 new ordinary shares.
An indicative timetable for the SPP is provided below. The SPP is currently scheduled to close on 11 January 2021, however the timetable is subject to change and therefore shareholders are encouraged to lodge their applications ahead of the advertised closing date.
| Record Date | 7.00pm AEDT on 4 December 2020 |
|---|---|
| SPP announcement | 7 December 2020 |
| SPP opens/dispatch of Offer Documents | 15 December 2020 |
| SPP closes | 7.00pm AEDT on 11 January 2021 |
| Announcement of results of SPP | 14 January 2021 |
| Issue of SPP shares | 20 January 2021 |
| New shares issued under SSP expected to commence trading. | 21 January 2021 |
Full details of the SPP will be set out in the offer document which will be despatched to Eligible Shareholders, consisting of the SPP terms and conditions and an Application Form. The SPP booklet will also be lodged on the ASX platform upon dispatch to eligible Shareholders.
Bell Potter and Shaw and Partners acted as Joint Lead Managers to the Placement.
Authorised for release by the Board of Money3 Corporation Ltd.
For further information please contact:
Managing Director
Mr Scott Baldwin
+61 3 9093 8255
[email protected]
Chief Financial Officer
Mr Siva Subramani
+61 3 9093 8246
[email protected]
Investor Relations
Mr Simon Hinsley
+61 401 809 653
[email protected]
ABOUT MONEY3 CORPORATION LIMITED (ASX: MNY)
Money3 is a specialist provider of consumer finance for the purchase or maintenance of a vehicle. Our business model and unique approach to customer care attracts creditworthy customers that are underserviced by traditional lenders. Money3 has a fast growing and high-quality loan book with more than 50,000 active accounts.
Money3 Corporation Limited
ABN 63 117 296 143 | ACL 389 782
40 Graduate Road, Bundoora, Vic. 3083
t 61 3 9093 8255 | f 61 3 9093 8227
e [email protected]
money3.com.au | investors.money3.com.au
Go Car New Zealand
t 64 9 979 7666
GoCar.co.nz