HEALTH AND PLANT PROTEIN GROUP LIMITED
23 June 2014
Buderim Ginger Limited (Company) is pleased to announce that it has successfully completed its pro-rata renounceable entitlement offer (Entitlement Offer).
The Entitlement Offer was heavily supported by shareholders and the Company received demand in excess of the total number of New Shares available. Valid applications for New Shares totalled approximately $11,414,000 resulting in oversubscriptions of approximately
$1,089,000.
All eligible shareholders who submitted valid applications will receive their full entitlement.
Additional Shares under Shortfall Facility
Under the Offer, eligible shareholders were also invited to apply for New Shares in addition to their entitlement (Additional Shares) under a Shortfall Facility.
In accordance with the terms of the Entitlement Offer, the Company will allocate Additional Shares out of the Shortfall Facility to eligible shareholder applicants on a pro-rata basis to their shareholdings at the record date.
The New Shares under the Entitlement Offer are expected to be allotted on Wednesday 25
June 2014 and commence trading on Thursday 26 June 2014.
In order to meet the demand for shares not satisfied out of the Shortfall Facility, the Company will consider issuing further new shares at the Entitlement Offer price of $0.50 per share, by way of placement to unsatisfied applicants for Additional Shares who the Company determines in its discretion are persons to whom no disclosure is required under section 708
of the Corporations Act.1
Eligible shareholders who have applied for Additional Shares which are not satisfied out of the
Shortfall Facility, will receive a refund of their application monies, unless they participate in the further placement and authorise the Company to apply their application monies accordingly. Refunds will be paid by direct credit if they have their details listed with the Company's share registry. Otherwise, payment will be sent by cheque. No interest will be paid on any application monies refunded.
The Directors thank shareholders for their strong support of the Company.
The types of applicant to whom no disclosure is required under section 708 of the
Corporations Act investor includes the following applicants:
Senior managers of the Company under section 708(12).
Legal/42722423_1
Sophisticated investors under section 708(8)), being investors:
who will acquire at least $500,000 worth of shares; or
who can provide a qualified accountant's certificate that they have:
gross income in each of the two last financial years of at least $250,000; or
net assets of at least $2.5 million.
Professional investors under section 708(11)
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