TruScreen Announces Share Purchase Plan Details

Published: 14 September 2018

Cervical cancer technology company, TruScreen Limited (NZAX:TRU), has today announced the details of the Share Purchase Plan (SPP) previously advised, with eligible shareholders invited to subscribe for up to $15,000 of new shares at 21 cents per share, the same pricing as the recent Placement on 6 September 2018.

The Share Purchase Plan is the second stage of the capital raising announced on 31 August 2018 and follows the successful $1.5 million Placement to existing and new investors.

TruScreen is seeking to raise up to $1.0 million from this SPP.  (The maximum amount legally able to be raised under NZAX Rule 7.3.4 (c) is $13,188,765).

The SPP opens on Monday 17 September and the Record Date for the SPP offer is 5pm, Friday 14 September 2018. The Offer will close on 3 October 2018.

The funds raised from the placement and SPP will be used to strengthen TruScreen’s balance sheet, fund sales and marketing initiatives, expand manufacturing capabilities and continue improvement to the device’s performance.

Chairman of TruScreen, Mr Robert Hunter, said: “The development of our second generation TruScreen device has opened up a number of new and significant opportunities and the capital raised will help us realise these and progress with our commercial strategy. The capital raising has been structured to provide existing shareholders the same opportunity to participate and share in the growth of our company as investors in the Placement.”

A copy of the Appendix 4 Notice required under the NZAX Listing Rules accompanies this announcement.

Key Dates

Record Date for participation in the SPP 5pm on 14 September 2018
Mailing of SPP and Forms to eligible shareholders 17 September 2018
Offer Period 17 September 2018 to 3 October 2018
Allotment Date On or before 10 October 2018

ENDS