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SPRINTEX LIMITED — Capital/Financing Update 2015
Apr 14, 2015
65799_rns_2015-04-14_82c0b303-bb40-4a3f-8b8e-3a26de5f78c8.pdf
Capital/Financing Update
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SPRINTEX LIMITED ABN: 38 106 337 599
ASX Code: SIX
14 April 2015
RIGHTS ISSUE CLOSE AND NOTICE OF UNDER SUBSCRIPTIONS
Sprintex Limited (ASX Code: SIX) ( Company ) refers to its non-renounceable pro rata offer to Eligible Shareholders announced on 24 February 2015 ( Rights Issue ), which closed on 9 April 2015. The Rights Issue offered Eligible Shareholders the opportunity to subscribe for up to approximately 1,385,481,273 New Shares on the basis of three (3) New Shares for every five (5) Existing Shares held to raise up to approximately $2,770,963 before costs, at an issue price of $0.002 per New Share.
The Company is pleased to announce that valid acceptances were received for 162,366,498 New Shares. The total shortfall under the Rights Issue was therefore 1,223,114,775 Shortfall Shares. Applications will be received from China Automotive Holdings Limited ( CAHL ) for 621,096,843 of the Shortfall Shares in accordance with its Underwriting Agreement with the Company.[1 ] The Rights Issue will therefore raise a total of approximately $1,566,927 before costs.
The Directors reserve the right, subject to the requirements of the Listing Rules and the Corporations Act, to place any of the remaining shortfall of 602,017,932 Shortfall Shares within three months from the 9 April 2015 closing date, as set out in the Prospectus for the Rights Issue.
The Directors of the Company express their appreciation to all Shareholders who participated in the Rights Issue and would like to thank them for their continued support.
Remaining Timetable
| Activity | Date |
|---|---|
| Issue of New Shares | 16 April 2015 |
| Normal trading of New Shares | 17 April 2015 |
Capitalised terms used in this announcement and not otherwise defined have the same meaning as in the Prospectus for the Rights Issue dated 24 February 2015.
For further information please contact the Company Secretary on +61 8 9262 7277.
ROBERT MOLKENTHIN COMPANY SECRETARY
1 CAHL agreed to subscribe for a maximum of 703,546,342 New Shares under the Rights Issue in accordance with the terms of the Underwriting Agreement. The right of CAHL to subscribe for New Shares under the Underwriting Agreement is reduced to the extent that CAHL subscribes for New Shares pursuant to the exercise of rights of CAHL to subscribe for New Shares under the Rights Issue as a shareholder. CAHL took up 82,449,500 New Shares as part of its entitlement under the Rights Issue and as such CAHL is only obliged to underwrite 621,096,843 Shortfall Shares.
183 Mulgul Road, Malaga WA 6090 PO Box 3348 Malaga DC WA 6945 Phone: +61 8 9262 7277 Fax: +61 8 9262 7288 Email: [email protected] URL: www.sprintex.com.au