ADSLOT LIMITED April 6 2016
Adslot Ltd ACN 001 287 510 (Adslot or Company) is pleased to announce it has completed a A$4.6 million share placement (Placement) to institutional and sophisticated investors pursuant to s.708A of the Corporations Act 2001.
The Placement consists of 57,500,000 ordinary shares (Shares) at A$0.08 per share (Offer Price), and represents a discount of approximately 7.6% to the Volume Weighted Average Price (VWAP) for the 30-day period immediately prior to the raising.
The Placement will be conducted in one tranche utilising the Company's 15% capacity under Listing Rule 7.1. Shares issued under the Placement will rank equally with Adslot's existing ordinary shares on issue.
The funds raised will be utilised in the following ways:
As growth capital in support of new business opportunities;
To accelerate the completion of certain new product features;
To strengthen the balance sheet; and
To provide additional working capital. The Placement was managed by BW Equities.
-ENDS-
Contact
Investor Relations Adslot Ltd
1
Email: investor.relations@adslot.com
Adslot Ltd. issued this content on 06 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 April 2016 00:51:20 UTC
Original Document: https://www.adslot.com/wp-content/uploads/2016/04/1542599.pdf
