ASX Release | 28 July 2020 |
ENTITLEMENT OFFER COMPLETED AND FULLY ALLOCATED
Greenvale Energy Limited (ASX: GRV or the Company) is pleased to announce that allotment took place today in relation to the Company's fully underwritten, pro-rata non-renounceableentitlement offer (Entitlement Offer) of one (1) fully paid ordinary share in the Company (New Share) for every one (1) existing share held by Eligible Shareholders on the Record Date (7.00pm (AEST) on 7 July 2020) at an issue price of A$0.019 per New Share, pursuant to the Prospectus dated 29 June 2020 (Prospectus).
The Entitlement Offer closed fully allocated, with:
- 40,790,104 New Shares or 36.15% allocated to Eligible Shareholders pursuant to their Entitlement;
- 2,971,726 New Shares or 2.63% allocated to Eligible Shareholders who have subscribed for New Shares in excess of their Entitlement (Shortfall Shares) pursuant to the Shortfall Facility; and
- 69,070,072 New Shares or 61.22% allocated to the Underwriter.
The Board advises that for those Eligible Shareholders who had subscribed for New Shares in excess of their Entitlement, in accordance with the Board's discretion to scale back applications for Shortfall Shares as outlined in the Prospectus, the Company has allotted 25% of the total number of Shortfall Shares that had been applied for. A refund for the subscription moneys received for the other 75% will be made as soon as possible.
The holding statements and refund cheques will be despatched on the 29 July 2020, and the anticipated trading of the New Shares to commence on the ASX on the 31 July 2020.
Details of the New Shares that have been issued to the Sub-underwriters under the Entitlement Offer is set out in Appendix 1.
The Board takes this opportunity to thank all of those shareholders who participated in the Entitlement Offer and for their support for the Company.
Board approval
This announcement has been approved by the Board of the Company.
REGISTERED OFFICE
T +61 2 8046 2799 | A Suite 6, Level 5, 189 Kent Street, SYDNEY, NSW 2000 | P PO Box 2733, Sydney, NSW, Australia, 2001 | E admin@greenvaleenergy.com.au
Contact details
For further information, please contact:
Vince Fayad
Director and Company Secretary
Ph: 0414 752 804
Email: vince.fayad@vfassociates.com.au
REGISTERED OFFICE
T +61 2 8046 2799 | A Suite 6, Level 5, 189 Kent Street, SYDNEY, NSW 2000 | P PO Box 2733, Sydney, NSW, Australia, 2001 | E admin@greenvaleenergy.com.au
Appendix 1 | ||||||
Sub Underwriters and their shareholdings | ||||||
Name of entity | Number of | Number of New | Total | Total % | ||
existing | Shares allotted | Shareholding in | ||||
shares held | under the | the Company | ||||
in the | Entitlement Offer | |||||
Company | ||||||
Biddle | Partners | Pty | 2,368,012 | 21,567,899 | 23,935,911 | 10.43% |
Ltd | ||||||
Julida Pty Limited*** | - | 475,000 | 475,000 | 0.21% | ||
David Stern*** | - | 2,150,000 | 2,150,000 | 0.94% | ||
Anna Leibowitz*** | - | 3,150,000 | 3,150,000 | 1.37% | ||
Teragoal Pty Ltd *** | - | 1,315,789 | 1,315,789 | 0.57% | ||
Kalonda Pty Ltd | 1,360,000 | 13,666,249 | 15,026,249 | 6.55% | ||
Onmell | Super | Pty | - | 1,315,789 | 1,315,789 | 0.57% |
Ltd*** | ||||||
Font SF Pty Ltd* | 6,337,822 | 4,662,1781 | 11,000,000 | 4.79% | ||
Gun Capital | 21,429,346 | 21,429,346 | 42,858,692 | 18.67% | ||
Management Pty | ||||||
Ltd/Mining | ||||||
Investments | ||||||
Limited** | ||||||
*Font SF Pty Ltd is an associated of Mr Julian Gosse, a Non Executive Director of the Company.
- Gun Capital Management Pty Ltd and Mining Investments Limited are an associate of the Non-Executive Chairman.
- These entities were nominated by either Kalonda Pty Ltd or Biddle Partners Pty Ltd.
- This includes 662,178 New Shares taken up under the Entitlement Offer.
REGISTERED OFFICE
T +61 2 8046 2799 | A Suite 6, Level 5, 189 Kent Street, SYDNEY, NSW 2000 | P PO Box 2733, Sydney, NSW, Australia, 2001 | E admin@greenvaleenergy.com.au
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Greenvale Energy Ltd. published this content on 28 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2020 08:30:17 UTC