Fully Underwritten $6 million SPP
Canberra, Nov 18, 2015 AEST (ABN Newswire) - Dyesol Limited (
ASX:DYE) (DYSOY:OTCMKTS) is pleased to announce a share purchase plan (SPP) providing shareholders with an opportunity to increase their shareholding in the Company as it continues to pursue its goal of scale-up and commercialisation of its revolutionary Perovskite Solar Cell (PSC) technology.
The Company is offering its shareholders with a registered address in Australia or New Zealand, as at 5.00pm (Perth time) on 17 November 2015 (Eligible Shareholders) the opportunity to purchase fully paid ordinary shares (Shares) under a SPP.
Purpose of the SPP
The SPP offer will give Eligible Shareholders the opportunity to participate in the Company's capital raising on the same terms as an intended share placement to financial institutions and high nett worth investors of up to $4 million (refer below).
It is intended that the proceeds of the SPP will be used by the Company to aggressively pursue its Technology Development and Business Activity plans as well as for working capital purposes.
Details of the SPP
The SPP opens on 19 November 2015 and is expected to close at 5.00pm (Perth time) on 4 December 2015.
Under the SPP, each Eligible Shareholder will be entitled to apply for parcels of new Shares from as little as $500 up to a maximum of $15,000 without incurring brokerage or transaction costs. The issue price will be 26 cents per Share. This represents a 19% discount to the volume weighted average price
(VWAP) of Dyesol's shares on the ASX during the 5 trading days immediately prior to today. The SPP is a good opportunity for those shareholders holding unmarketable parcels to increase their holdings without incurring transaction costs.
SPP Shares will be issued at 26 cents per Share. All SPP Shares will be quoted on ASX and will rank equally with other fully paid ordinary shares on issue.
No shareholder approval is necessary in respect of the Shares issued under the terms of the SPP.
The SPP is fully underwritten and lead managed by PAC Partners Pty Ltd, an Australian based financial advisory firm.
The SPP booklet containing further details of the SPP will also be lodged with ASX. SPP booklets and application forms are expected to be sent to shareholders shortly. Eligible Shareholders should read the SPP booklet before deciding whether to participate in the SPP.
Important Dates:
Record Date 4.00pm (Perth time) on 17 November 2015SPP offer opens 18 November 2015SPP offer closes 5.00pm (Perth time) on 4 December 2015SPP allocation announcement and Scale-back (if any) 9 December 2015Issue date 10 December 2015Dispatch of holding statements 11 December 2015Quotation of new Shares 14 December 2015
Dyesol may vary any of the above dates in its absolute discretion and will advise of any variation by lodging a revised timetable with the ASX.
Placement
In addition to the SPP, the Company is intending to seek applications from selected financial institutions, sophisticated and professional investors to subscribe for up to $4 million. This will result in Dyesol raising a minimum of $6 million and a maximum of $10 million.
To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-DYE-742860.pdf
About Greatcell Solar Limited
Greatcell Solar Limited (ASX:GSL) (OTCMKTS:DYSOY) is a global leader in the development and commercialisation of Perovskite Solar Cell (PSC) technology – 3rd Generation photovoltaic technology that can be applied to glass, metal, polymers or cement. Greatcell Solar Limited manufactures and supplies high performance materials and is focussed on the successful commercialisation of PSC photovoltaics. It is a publicly listed company: Australian Securities Exchange ASX (GSL) and German Open Market (D5I). Learn more at our website and subscribe to our mailing list in English and German.
| ||
|
