Microsoft Word - Shortfall Advice Rights Issue 11 May 2016
ACN. 000 317 251
MARKET RELEASE 11 May 2016
RIGHTS ISSUE UPDATE
On behalf of the Board, CuDeco Limited (ACN 000 317 251) advise that the fully underwritten Non-Renounceable Rights Issue ("Offer") under the Replacement Prospectus announced on 11 April 2016 (for one new share for every four held at an issue price of $0.80 per share) closed on 6 May 2016.
The Results of the Offer are summarised below:
Maximum number of New Shares under the Offer
Entitlement to New Shares accepted by eligible shareholders under the Offer
Additional Securities taken up by eligible shareholders under the Offer
Total applications by eligible shareholders under the Offer (Entitlement + Additional Securities)
Balance Shortfall Shares (to be taken up by the Sub-Underwriters)
|
78,855,640
|
$63,084,512
|
|
40,100,596
|
$32,080,476
|
|
1,635,097
|
$1,308,077
|
|
41,735,693
|
$33,388,553
|
|
37,119,947
|
$29,695,959
|
No. of New Shares
Subscription Funds
The Company intends to issue all Additional Securities applied for by eligible shareholders under the Replacement Prospectus as shown above. The Shortfall shares will be allocated to the Sub-Underwriters under the terms of the Underwriting Agreement, with the allocation approved by the Board. The proceeds from the rights issue subscriptions, the applications for additional securities and the fully underwritten shortfall will constitute total funds raised of
$63,084,512 before expenses of the Offer.
China Oceanwide International Investment Co. Limited, New Apex Asia Investment Limited and Rich Lead Pte Limited as the main sub-underwriters to the issue have confirmed their intentions to take up their proportion of the shortfall within the next week. AM Capital Limited plans to place their proportion of the shortfall with their clients over the coming weeks.
It is planned to allot the new shares on Friday, 13 May 2016, with the despatch of the holding statements for the new shares on Tuesday, 17 May 2016.
CuDeco also thanks all shareholders for their invaluable support at his important period in the Company's development
Yours faithfully
Bruno Bamonte Company Secretary CuDeco Limited
Unit 34, Brickworks Annex, 19 Brolga Avenue, SOUTHPORT 4215
Phone: +617 5503 1955 Facsimile: +617 5503 0288 Email: [email protected]