Net cash AUD 9m Post Placing14 Mar 2019 11:48
Subsequent to the quarter end, the Company placed 100,000,000 new ordinary shares at an issue price of 2.8 pence (AUD0.05) per share to raise £2.8 million (approximately AUD5.0m) before expenses.
The oversubscribed placing was made to both new and existing institutional and sophisticated investors, via the Company's UK Broker, Brandon Hill Capital, and its Australian Broker and Corporate Adviser, 708 Capital Pty Ltd and Max Capital.
The Company remains active in reviewing other potential opportunities and at the end of the quarter had cash at bank of AUD4.45m (approximately AUD9m post completion of the aforementioned placing). Refer to Appendix 5B for further details which can be viewed here:
(It was 4.5m at end of quarter, the placing has happening after the end of quarter, we haven't quite reached the end next one yet!