RE: Placing8 Apr 2021 19:59
News out-Raised more than they said-$12.5mill but over subsribed so will see where it goes.
The Company has conditionally raised, in aggregate, approximately US$12.5 million1 at a price of 1.1 pence (2.0 Australian cents) per new Ordinary Share (the "Placing Price").
· 363,165,226 new Ordinary Shares have been placed with new and existing institutional investors at the Placing Price (the "Unconditional Placing"). The New Ordinary Shares proposed to be issued pursuant to the Unconditional Placing will be issued within the Company's existing ASX Listing Rule 7.1 capacity.
· 195,037,6681 new Ordinary Shares have been conditionally placed with new and existing institutional investors at the Placing Price (the "Conditional Placing").
· In addition, certain new and existing shareholders have subscribed directly with the Company for a total of 265,272,7241 new Ordinary Shares at the Placing Price (the "Subscription Shares").
· Harlequin Investments Ltd (a Substantial Shareholder as defined under the AIM Rules, and a Company in which David Stevens is an associate) is participating in the Proposed Fundraise for a total of 65,876,1521 New Ordinary Shares with a total value of approximately US$1.0 million.
· David Hathorn, Chairman of Kore, has indicated he is participating in the Proposed Fundraise for a total of 23,056,653 New Ordinary Shares for a total value of approximately $350,000, his participation in the Subscriptions is to be confirmed once the Company has released its quarterly results for the period ended 31 March 2021.
· Conditionally, in aggregate, a total of 823,475,6181 New Ordinary Shares will therefore be issued pursuant to the Proposed Fundraise, representing approximately 25.1% per cent. of the Enlarged Share Capital.
https://www.londonstockexchange.com/news-article/KP2/results-of-proposed-fundraise/14930300
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