Truscreen Limited (NZX:TRU) (“Truscreen” or the “Company”) is pleased to announce that its recently closed Share Purchase Plan (SPP) has raised a total of $3,128,000. The SPP has not been scaled and the Board has resolved to place the excess acceptances of $1,128,000, under NZX Listing Rule 4.5.1.
In addition, Truscreen has raised a further $615,000 through a placement to several wholesale investors, under NZX Listing Rule 4.5.1.
In aggregate, TRU has raised $3,743,000 from its capital raising initiatives and will issue approximately 74.8 million New Shares at an issue price of $0.05 per share.
Messrs. Chris Lawrence, Chris Horn and Tony Ho, directors of the company, participated in the SPP and placement.
Truscreen Chairman Tony Ho says “Truscreen is delighted with the overwhelmingly positive support received from Truscreen shareholders to the capital raising initiatives, especially having regard to the current challenging environment. The new capital raised will enable the Company to implement its business strategy”.
TRU expects that the new shares from the SPP and placement will be allotted, and holder statements sent out to shareholders on or about Thursday, 21 May.
Auckland based capital markets advisory firm CM Partners advised Truscreen on the capital raising initiatives. |
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