Share Purchase Plan Closes Oversubscribed
Perth, June 8, 2016 AEST (ABN Newswire) - Strategic Elements Limited (
ASX:SOR) is pleased to announce that the Company's Share Purchase Plan (SPP) closed yesterday.
Shareholders strongly supported the SPP with over $8,600,000 in applications received.
The Company recognises the strong demand from shareholders and will accept a total of $6,400,000 according to the terms of the SPP.
Application funds rejected or scaled back will be sent via cheque after the 10th of June.
The Company will start processing applications and shareholders will be advised of their holdings after the 10th of June by Security Transfer Registrars.
The SPP timetable is set out below.
Date & Details:
04 May 2016: Record Date 5pm (WST).
The date of which the Company determines Eligible Shareholders.
05 May 2016: Announcement Date
10 May 2016: Dispatch of Plan
10 May 2016: Opening Date.
The date on which the Plan opens.
7 Jun 2016*: Closing Date. The date on which the Plan closes.
Applications and payments must be received by 5pm (WST).
10 Jun 2016*: Allotment Date and Dispatch Date.
The date Shares under the Plan are allotted and any scale back.
15 Jun 2016*: Share Trading Date.
The date on which it is expected that Shares under the Plan will commence trading on the ASX.
*These dates are indicative only and may change at the discretion of the Directors (subject to the requirements of all applicable law).
About Strategic Elements Ltd
Strategic Elements (ASX:SOR) shares are listed on the Australian Stock Exchange under the code “SOR”. The Company is registered under the Pooled Development Program run by the Australian Federal Government to encourage investment into SME’s. To assist Pooled Development Fund’s to invest and raise capital, the Federal Government enables most shareholders in a Pooled Development Fund to make capital gains and receive dividends tax-free.
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