Truscreen Limited Share Purchase Plan Closes Oversubscribed
Share Purchase Plan (SPP) and Share Placement raises $3.743 million
Auckland based capital markets advisory firm CM Partners advised Truscreen on the capital raising initiatives.
New Same Class Offer to be undertaken to raise a further $1.5 million
Due to a number of inquiries from Truscreen shareholders wishing to take up more than their entitlement under the SPP, and third party investors wishing to participate in the capital raising initiatives, the Board has resolved to provide both existing NZ shareholders who were unable to take-up more than their maximum SPP entitlement, as well as the wider investor community, the opportunity to participate in a new same class offer to raise a maximum of $1.5 million (“New Offer”).
The New Offer comprises:
• A priority allocation of $1 million of new TRU shares (at an issue price of $0.05 per share) to an NZX market participant; and
• A public pool of $500,000 of new TRU shares (at an issue price of $0.05 per share), which is open to both New Zealand retail and wholesale investors. In the event that oversubscriptions are received in respect of the public pool, those subscriptions will be scaled on a pro rata basis. Any shares not taken up in the priority allocation may be reallocated to the public pool.
Parties who wish to participate in the public pool may now apply for shares online at https://www.truscreenoffer.co.nz/
All applications under the New Offer must be received not later than 5pm on Wednesday, 3 June 2020.
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