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SPRINTEX LIMITED — Capital/Financing Update 2015
Feb 23, 2015
65799_rns_2015-02-23_f8550908-2d65-476f-9fd7-3cbf6afb2c27.pdf
Capital/Financing Update
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SPRINTEX LIMITED ABN: 38 106 337 599
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24 February 2015
PARTIALLY UNDERWRITTEN NON-RENOUNCEABLE RIGHTS ISSUE TO RAISE UP TO APPROXIMATELY $2.77 MILLION
Sprintex Limited (ASX Code: SIX) ( Company ) is pleased to announce a non-renounceable pro rata offer to Eligible Shareholders of approximately 1,385,481,273 New Shares at an issue price of $0.002 per New Share on the basis of three (3) New Shares for every five (5) Existing Shares held to raise up to approximately $2.77m before costs ( Rights Issue ).
The Company intends to apply the funds raised under the Rights Issue towards the expansion and further development of the Company’s core product, Sprintex superchargers, the expansion and further development of the North American and Asian markets for its product, and for general working capital purposes.
The Rights Issue is partially underwritten up to 703,546,342 New Shares by China Automotive Holdings Limited, an entity controlled by Richard Siemens, the Non-Executive Chairman of the Company. The Rights Issue will therefore raise a minimum of approximately $1.4 million.
Shareholders who hold Shares at 5pm (WST) on 3 March 2015, and have a registered address in Australia or New Zealand will be eligible to participate in the Rights Issue.
A prospectus relating to the Rights Issue which contains further information ( Prospectus ) has been lodged with the Australian Securities and Investments Commission and ASX today, and is also available on the Company’s website. Eligible Shareholders will be sent a copy of the Prospectus and personalised Application Form on 6 March 2015.
Timetable
The proposed timetable for the Rights Issue is set out below. The dates are indicative only and the Company reserves the right to vary the dates including the right to extend the Closing Date or to withdraw the Rights Issue (subject to the Corporations Act and the ASX Listing Rules).
| Activity | Date |
|---|---|
| Lodgement of the Prospectus with ASIC | 24 February 2015 |
| Ex-date - Shares quoted on an ex-entitlement basis | 27 February 2015 |
| Record Date for determining entitlements of Eligible Shareholders | 3 March 2015 |
| under the Rights Issue | |
| Despatch Prospectus and Application Form to Eligible Shareholders | 6 March 2015 |
| Rights Issue Opening Date | 6 March 2015 |
| Rights Issue Closing Date | 9 April 2015 at 5.00pm(WST) |
| Final time for receipt of Application Forms and payment in full for New | |
| Shares | |
| Notification to the ASX of Shortfall | 14 April 2015 |
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
SPRINTEX LIMITED ABN: 38 106 337 599
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16 April 2015 Issue of New Shares 17 April 2015 Normal trading of New Shares
Unless defined within, capitalised terms used in this announcement have the same meaning given to those terms in the Prospectus.
For further information please contact the Company Secretary on +61 8 9262 7277.
ROBERT MOLKENTHIN COMPANY SECRETARY
Important Information
Nothing contained in this announcement constitutes investment, legal, tax or other advice. You should make your own assessment and take independent professional advice in relation to the information and any action taken on the basis of the information.
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
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