TRU - Truscreen

[tango]

Meh. Still a long way from profitability and limited penetration into the markets they are in

[HITMAN]

Another capital raise and ASX listing application.

INTENTION TO MAKE APPLICATION FOR DUAL LISTING OF TRUSCREEN’S SHARES ON THE ASX
Cervical cancer screening technology company, TruScreen Group Limited (NZX: TRU) advises that it intends to undertake a capital raising initiative, by way of a public offer, to raise up to a maximum of NZD$2 million (“Offer”) in conjunction with the dual listing of its shares on the ASX.
An application will shortly be made to ASX, after the Product Disclosure Statement (“PDS”) in support of the Offer has been lodged on the Offer Register, for TruScreen to be admitted to the Official List of ASX as an ASX Foreign Exempt Listing and for quotation of the new shares to be offered in Australia on the ASX. If TruScreen is admitted to the official list of ASX, then those Australian based investors in the Offer will have their Shares quoted on the ASX.
Purpose of the Offer
The purpose of the Offer is to raise not less than NZ$1.0 million and not more than NZ$ 2 million of new capital through the issue of up to a maximum of 28,571,428 million new ordinary fully paid shares in TruScreen at an issue price of NZD 7 cents (AUD 6.5 cents).
The money raised under the Offer will be applied towards the following initiatives:
• Investment in team capabilities for business expansion;
• Establish device manufacturing in China for Chinese operations;
• Reduce the cost of the product via R&D initiatives;
• Market development through market access/medical affairs capability;
• Costs associated with the Offer and dual listing; and
• General working capital.
This Offer is conditional upon the ASX approving the admission of the Company to the Official List of the ASX as an ASX Foreign Exempt Listing and for quotation of the Shares on the ASX on or before that Closing Date (as that date may be varied from time to time). In the event that this condition is not satisfied, then this Offer will not proceed, and all application moneys received by the Company will be refunded to investors in full and without deduction within 5 business days.
Key terms of the offer
Description of securities being offered Ordinary fully paid shares
Price NZD 7 cents per Share, or AUD 6.5 cents per Share
Intended Opening Date of the Offer 26 November 2020
Intended Closing Date 18 December 2020
Number or amount of the equity securities being offered The Offer has been divided in to two geographic pools. A pool of 14,285,714 new Shares ($NZD1 million) has been set aside for subscription by Australian Residents (“Australian Pool”). A pool of 7,142,857 new Shares (NZD$500,000) has been set aside for subscription by New Zealand Residents (“NZ Pool”).
In the event that one of the geographic pools is undersubscribed, then the balance of that pool may be allocated to the other pool for subscription.
The Board of TruScreen has the discretion to accept oversubscriptions of up to a maximum of 7,142,857 new Shares representing a maximum of $500,000. In the event that the Offer is fully subscribed and the Board resolves to accept oversubscriptions to the maximum level of NZ$2,000,000, the maximum number of Shares that can be offered under the Offer is 28,571,428 Shares.
Any oversubscriptions received shall be apportioned as between the two geographic pools referred to above, in the same proportions as each of the two geographic pools represent, as a percentage of the total Offer.
Scaling TruScreen may scale applications at its sole discretion.
The above dates are subject to change at the discretion of the Board of TruScreen, subject to compliance with NZX Listing Rules and ASX and ASIC requirements.
A copy of the PDS and collateral information will be released to the market once the PDS has been finalised and registered on the Offer Register in New Zealand.
TruScreen will advise the market once it has received confirmation from the ASX that its application for admission to the Official List on the ASX has been approved, and the Offer is unconditional.
Truscreen is being advised, in New Zealand, by CM Partners Limited.

[whatsup]

Another capital raise and ASX listing application.

[FONT="]INTENTION TO MAKE APPLICATION FOR DUAL LISTING OF TRUSCREEN’S SHARES ON THE ASX[/FONT]
[FONT="]Cervical cancer screening technology company, TruScreen Group Limited (NZX: TRU) advises that it intends to undertake a capital raising initiative, by way of a public offer, to raise up to a maximum of NZD$2 million (“Offer”) in conjunction with the dual listing of its shares on the ASX.[/FONT]
[FONT="]An application will shortly be made to ASX, after the Product Disclosure Statement (“PDS”) in support of the Offer has been lodged on the Offer Register, for TruScreen to be admitted to the Official List of ASX as an ASX Foreign Exempt Listing and for quotation of the new shares to be offered in Australia on the ASX. If TruScreen is admitted to the official list of ASX, then those Australian based investors in the Offer will have their Shares quoted on the ASX.[/FONT]
[FONT="]Purpose of the Offer[/FONT]
[FONT="]The purpose of the Offer is to raise not less than NZ$1.0 million and not more than NZ$ 2 million of new capital through the issue of up to a maximum of 28,571,428 million new ordinary fully paid shares in TruScreen at an issue price of NZD 7 cents (AUD 6.5 cents). [/FONT]
[FONT="]The money raised under the Offer will be applied towards the following initiatives:
• Investment in team capabilities for business expansion;
• Establish device manufacturing in China for Chinese operations;
• Reduce the cost of the product via R&D initiatives;
• Market development through market access/medical affairs capability;
• Costs associated with the Offer and dual listing; and
• General working capital.[/FONT]
[FONT="]This Offer is conditional upon the ASX approving the admission of the Company to the Official List of the ASX as an ASX Foreign Exempt Listing and for quotation of the Shares on the ASX on or before that Closing Date (as that date may be varied from time to time). In the event that this condition is not satisfied, then this Offer will not proceed, and all application moneys received by the Company will be refunded to investors in full and without deduction within 5 business days.[/FONT]
[FONT="]Key terms of the offer[/FONT]
[FONT="]Description of securities being offered Ordinary fully paid shares [/FONT]
[FONT="]Price NZD 7 cents per Share, or AUD 6.5 cents per Share[/FONT]
[FONT="]Intended Opening Date of the Offer 26 November 2020[/FONT]
[FONT="]Intended Closing Date 18 December 2020[/FONT]
[FONT="]Number or amount of the equity securities being offered The Offer has been divided in to two geographic pools. A pool of 14,285,714 new Shares ($NZD1 million) has been set aside for subscription by Australian Residents (“Australian Pool”). A pool of 7,142,857 new Shares (NZD$500,000) has been set aside for subscription by New Zealand Residents (“NZ Pool”).[/FONT]
[FONT="]In the event that one of the geographic pools is undersubscribed, then the balance of that pool may be allocated to the other pool for subscription.[/FONT]
[FONT="]The Board of TruScreen has the discretion to accept oversubscriptions of up to a maximum of 7,142,857 new Shares representing a maximum of $500,000. In the event that the Offer is fully subscribed and the Board resolves to accept oversubscriptions to the maximum level of NZ$2,000,000, the maximum number of Shares that can be offered under the Offer is 28,571,428 Shares.[/FONT]
[FONT="]Any oversubscriptions received shall be apportioned as between the two geographic pools referred to above, in the same proportions as each of the two geographic pools represent, as a percentage of the total Offer.[/FONT]
[FONT="]Scaling TruScreen may scale applications at its sole discretion.[/FONT]
[FONT="]The above dates are subject to change at the discretion of the Board of TruScreen, subject to compliance with NZX Listing Rules and ASX and ASIC requirements.[/FONT]
[FONT="]A copy of the PDS and collateral information will be released to the market once the PDS has been finalised and registered on the Offer Register in New Zealand.[/FONT]
[FONT="]TruScreen will advise the market once it has received confirmation from the ASX that its application for admission to the Official List on the ASX has been approved, and the Offer is unconditional. [/FONT]
Truscreen is being advised, in New Zealand, by CM Partners Limited.

I see along with another C R that TRU is applying for a listing in Aust, is this a case of returning to the country where this oufit came from , how many years ago was that and still to my mind no real creditable endorsement of its value or efficacy - FDA etc !!

[nevchev]

What a shame.Thought they were making ground but hand out again,more dilution and all followed by the sp pulling back once again

[tango]

What a shame.Thought they were making ground but hand out again,more dilution and all followed by the sp pulling back once again

I’m thinking of exiting

I mean, seriously? Another capital raising. Last time they accepted over subscriptions and still seem to be burning through that money. They aren’t making the sort of inroads that they need to make. Lots of press releases about new markets but when you look at the numbers the uptake of those new markets is not enough. They need far greater penetration in each of those markets to be profitable and have a sustainable company

Great product but... they should have done their numbers before the first capital raising

[whatsup]

I’m thinking of exiting

I mean, seriously? Another capital raising. Last time they accepted over subscriptions and still seem to be burning through that money. They aren’t making the sort of inroads that they need to make. Lots of press releases about new markets but when you look at the numbers the uptake of those new markets is not enough. They need far greater penetration in each of those markets to be profitable and have a sustainable company

Great product but... they should have done their numbers before the first capital raising

Smoke and mirrors IMHO ?

[Lion_graf]

I'm still positive they are on the right track.. I dont think its unreasonable to ask for a capital raise when we have seen a solid rise over the last couple months. If there is one company that needs it its TRU

[tango]

I'm still positive they are on the right track.. I dont think its unreasonable to ask for a capital raise when we have seen a solid rise over the last couple months. If there is one company that needs it its TRU

The last capital raising was less than 6 months ago. They need to a proper budget and go big and ask for $10m or whatever they need rather than drip feeding in capital raising on a regular basis. To me this is poor management and inadequate long term planning

“18 May 2020
Truscreen Limited Share Purchase Plan Closes Oversubscribed

Share Purchase Plan (SPP) and Share Placement raises $3.743 million”

[Lion_graf]

The last capital raising was less than 6 months ago. They need to a proper budget and go big and ask for $10m or whatever they need rather than drip feeding in capital raising on a regular basis. To me this is poor management and inadequate long term planning

“18 May 2020
Truscreen Limited Share Purchase Plan Closes Oversubscribed

Share Purchase Plan (SPP) and Share Placement raises $3.743 million”

Definitely poor planning as you say. Dont want to see continuous CR's and end up like NTL. However they have a good product and are looking to truly penetrate other markets effectively. If your going to list on the ASX why not kill two birds and have a CR to boot.

[tango]

Definitely poor planning as you say. Dont want to see continuous CR's and end up like NTL. However they have a good product and are looking to truly penetrate other markets effectively. If your going to list on the ASX why not kill two birds and have a CR to boot.

The product is AMAZING and it makes sense to raise capital with a dual listing but the lack of long range planning is a major concern.