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STAR COMBO PHARMA LIMITED — Capital/Financing Update 2019
Jul 7, 2019
65746_rns_2019-07-07_f3eddca2-c37a-4f67-acf9-6b6d2b302bb2.pdf
Capital/Financing Update
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STAR COMBO PHARMA LTD ABN 38 6157 283 75 171 -177 Woodpark Rd Smithfield NSW 2164 Ph: +61 2 9756 6555 [email protected]
ASX Announcement
8 July 2019
Star Combo Pharma Ltd announces share purchase plan details
Star Combo Pharma Ltd ACN 615 728 375 ( Star Combo , or the Company ) today announced the details of a Share Purchase Plan ( SPP ).
The SPP will provide Star Combo's shareholders with a registered address in Australia or New Zealand with an opportunity to participate in the Company's capital raising program, the proceeds of which will be applied by Star Combo to assist with the financing of the acquisition of Bio-E Australia Pty Ltd.
Star Combo's shareholders entitled to participate in the SPP can apply for up to A$15,000 worth of fully paid ordinary shares in Star Combo ( Shares ) without incurring any transaction costs. Shareholders who at 7.00pm (Sydney time) on Friday, 5 July 2019 were registered and eligible holders of ordinary Shares in Star Combo and whose registered address is in Australia or New Zealand will be able to participate in the SPP. The record date for determining entitlements will be 7.00pm (Sydney time) on Friday, 5 July 2019. The SPP documentation is expected to be dispatched on or about Tuesday, 9 July 2019. It is expected that the SPP will close at 5.00pm (Sydney time) on Friday, 2 August 2019, but the Company will reserve the right to extend the closing date.
The purchase price of shares to be issued under the SPP is expected to be $0.56 per Share, being a 19.32% discount to the volume weighted average price of Shares traded on ASX over the 5 trading days up to, and including, Wednesday, 3 July 2019, which was the last day of trading of Shares on ASX prior to Star Combo's announcement of the SPP.
The maximum amount to be raised by Star Combo under the SPP is planned to be limited to A$1 million. If applications by Star Combo shareholders for Shares under the SPP exceed this amount, Star Combo reserves the right to scale back applications on a pro rata basis. An application of $15,000 made under the SPP equates to an application for 26,785 Shares.
Final details will be set out in the documentation to be sent to shareholders.
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STAR COMBO PHARMA LTD ABN 38 6157 283 75 171 -177 Woodpark Rd Smithfield NSW 2164 Ph: +61 2 9756 6555 [email protected]
About Star Combo Pharma
Star Combo Pharma is a leading distributor and manufacturer of premium health and natural beauty products. Based in Sydney, Australia, our products are distributed to both Australian and overseas markets. Directed by pharmacists and experts in health supplement manufacturing, Star Combo’s vision is to curate health products made from natural ingredients with scientific R&D and manufacturing practices. Star Combo is a 100% Australian based operation.
For further information contact:
Patrick Raper Company Secretary Star Combo Pharma Limited [email protected]
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