News and Announcements
ISAG – Placement to Strategic Investor
- Published September 23, 2013 1:51PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Indoor Skydive Australia Group Limited ACN 154 103 607 (ASX:IDZ) (“Company”) has agreed to a placement under section 708(8) of the Corporations Act 2001 (Cth) to a key strategic investor.
The placement is for 2,225,000 shares at an issue price of $0.45 to raise $1,001,250. The placement will be settled on Thursday 26 September 2013. As the placement will be settled after the record date for the Renounceable Pro-Rata Entitlements Offer (“Offer”) the recipient will not be entitled to participate in the Offer. The placement is within the 15% limit set out in Listing Rule 7.1 and does not require shareholder approval.
Veritas Securities Limited acted as Corporate Advisor to the Company for the Share Placement.
The Company believes that this placement is a key step in consolidating the IDZ financial position while greatly increasing its capacity to more rapidly deliver on the vision and strategy detailed in the Company’s Prospectus.
To read the full ASX Release please click on the document below.
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