The Firm will at this time concern 310,163,191 totally paid abnormal shares (Shares) at $0.02 per Share below the Tranche 2 Placement Supply and the Precedence Supply, and 177,331,596 free attaching Choices (Choices) to Placement and Precedence Supply individuals on the idea of 1 Possibility for each 2 Shares issued to Tranche 1 and a pair of Placement individuals and Precedence Supply Contributors. The Choices can have an train value of $0.03 every with an expiry date of 24 months from the date of concern. The Firm can be looking for citation of the Choices. Citation is anticipated to happen this Wednesday, 17 July.
The Firm has acquired sturdy assist from holders with a complete of $0.45M subscribed for below the Precedence Supply, with the Firm having the fitting to position the shortfall to the Precedence Supply below the Shortfall Supply till 9 October 2024.
The Firm additionally acquired sturdy assist within the Placement, with a complete of $7M in agency commitments being acquired. As a result of shortfall within the Precedence Supply, the overall commitments acquired within the Placement Supply have been required to be scaled again from $7M to $6.64M, as in any other case a considerable shareholder would have acquired a voting energy within the Firm in extra of 20% in contravention of part 606(1) of the Companies Act 2001 (Cth). The rest of the dedication can be accomplished as a part of completion of the Shortfall Supply, topic to compliance with part 606(1).
The difficulty of the Tranche 2 Placement Shares, Precedence Supply Shares and Choices had been authorised by shareholders on the Firm’s Common Assembly held on 9 July 2024.
Capitalised phrases on this announcement have the which means given to them within the Firm’s Prospectus dated 10 Could 2024, besides as expressly outlined in any other case.
This announcement has been authorised and authorised in accordance with the Firm’s revealed steady disclosure coverage.
Click here for the full ASX Release
This text consists of content material from Broad Open Agriculture, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your accountability to carry out correct due diligence earlier than performing upon any info offered right here. Please discuss with our full disclaimer right here.