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TZ LIMITED — Capital/Financing Update 2019
Nov 12, 2019
65975_rns_2019-11-12_375948dd-df21-4b05-96c3-9a539c76a823.pdf
Capital/Financing Update
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Level 11, 1 Chifley Square Sydney NSW 2000 Australia Telephone (+61) 2 9222 8890
www.tz.net
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TZ Limited
ABN 26 073 979 272
13 November 2019
ASX Announcement
TZ Limited announces Share Purchase Plan to fund further growth
TZ Limited (“ TZ ” or the “ Company ”) today announces an offer (“ Offer ”) to eligible shareholders to apply for up to $30,000 worth of new ordinary shares (" New Shares ") in TZ under a Share Purchase Plan (“ SPP ”). The Company is seeking to raise up to approximately $2.2 million from the SPP (before costs).
It is expected that the Offer will open on Friday, 15 November 2019 and remain open for subscription until 5.00 pm (Sydney time) on Monday, 9 December 2019.
Funds raised under the SPP will:
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enable the Company to properly resource its US sales initiatives to capitalise on the growth opportunities in the US educational sector;
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allow the Company to develop its annuity business by supporting subscription based TZ Softwareas-a-Service offerings;
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support investment in additional sales resources to more rapidly expand opportunities in new application areas; and
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for working capital purposes.
Chairman, Graham Lenzner, commented,
“The Company has gone through a major transition over the last few years to build the right structure, competencies and product offering to deliver a profitable and sustainable business model, and we are confident there are now sufficient positive tailwinds that indicate that profitability is close. With a focus on initiatives that can scale the business and enable the potential for favourable returns to shareholders, the SPP funds will do much to support this endeavour and help concentrate the sales effort on tangible short to medium term outcomes.".
The issue price for each New Share under the SPP will be 10.5 cents . This represents:
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a 19.2% discount to the volume weighted average sale price of TZ shares over the last 5 business days on which shares are traded immediately prior to the date of this announcement; and
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a 12.5% discount to the volume weighted average sale price of TZ shares over the last 30 trading days prior to the date of this announcement.
There will be no brokerage or other transaction costs payable by shareholders under the Offer.
Application amounts and eligibility
Eligible shareholders will be able to choose the amount they subscribe for New Shares under the SPP, from either $5,000, $10,000, $15,000, $20,000, $25,000 or $30,000 worth of New Shares.
Participation in the SPP will be open to all eligible registered ordinary shareholders of TZ as at 7.00pm (Sydney time) on Tuesday, 12 November 2019 and whose registered address is in Australia or New Zealand.
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Level 11, 1 Chifley Square Sydney NSW 2000 Australia Telephone (+61) 2 9222 8890
www.tz.net
ABN 26 073 979 272
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TZ Limited
The indicative timetable for the Offer is as follows (dates are subject to change):
| Event | Date |
|---|---|
| Despatch SPP documentation to shareholders and Offer opens |
15 November 2019 |
| Closing date for the SPP | 5.00 pm (Sydney time), 9 December 2019 |
| Issue New Shares | 16 December 2019 |
| Despatch allotment confirmations of New Shares | 17 December 2019 |
| Quotation of New Shares on ASX | 17 December 2019 |
Other information
The maximum number of New Shares to be issued under this Offer is 21,167,448 New Shares. The Board may decide to issue to any person fewer New Shares than that person applied for under the SPP. This will be by way of a scale-back mechanism which will be announced if necessary.
TZL will rely on exception 15 in Listing Rule 7.2 and therefore shareholder approval in relation to the proposed issue under the SPP will not be sought.
Shareholders are encouraged to consider the Offer carefully and to obtain their own financial advice in relation to the Offer before applying for New Shares.
TZ has appointed DELCOR Advisory Group as Lead Manager to the SPP.
Reach Market, the adviser assisting with the management of this Offer, will provide the forms as soon as they become available. They can also be contacted on [email protected] or 03 80 80 5795 should you have any questions.
To request an electronic copy of your personalised application form, once available, please register here - https://tz.investorportal.com.au/application-form/.
For further information, please contact:
Reach Markets
[email protected] 03 80 80 5795
About TZ Limited
TZ Limited (“ TZ ”) is a technology company that is listed on the Australian Securities Exchange. TZ is the leader in SMArt Device™ technology combining state-of-the-art SMA actuated intelligent fastening and locking devices with TZ remote software control. TZ’s systems deliver asset level protection and compelling solutions for security, monitoring and control applications across a number of market segments. The Company currently supplies market leading solutions to major corporations worldwide to the Data Centre industry and in the Automated Parcel Locker and E-Commerce market.
For additional information on TZ Limited, please visit www.tz.net.
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