Successful 'At Market' Placement of up to $6.5m at $0.19
Melbourne, Nov 2, 2017 AEST (ABN Newswire) - Australian Securities and Frankfurt Stock Exchange listed iSignthis Ltd (
ASX:ISX) (TA8:FRA) ("the Company"), the global leader in enhanced payments incorporating AML/CFT KYC Regtech compliance technology, is pleased to announce that it has placed up to Six point Five Million dollars (AUD$6.5million) (see Note below) to institutional and sophisticated investors.
The placement is a result of the successful Hong Kong, Sydney and Melbourne investor briefing with regards to the Company's recent Appendix 4C results.
During the briefing roadshow, both existing and new institutional investors indicated a strong desire to participate in any future capital raisings the company planned. Such was the demand, that the placement price is at a premium to the current market 5 day Volume Weighted Average Price (VWAP) price up to the 31st October, with a total of up to 34,210,526 new shares to be issued.
The 'at market' price of 19c has been calculated based upon a 5 day Volume Weighted Average of $18.846c.
The placement includes the issue of unlisted options, distributed pro-rata to participants, and issued at a ratcheting strike price of
- $0.24 on a 1 to 12 basis, based upon 15 month expiry, or up to 2,850,877 options.
- $0.27 on a 1 to 12 basis, based upon 18 month expiry, or up to 2,850,877 options.
- $0.31 on a 1 to 12 basis, based upon 27 month expiry, or up to 2,850,877 options.
Full exercise of the above options would provide the Company with up to an additional $2.33m in working capital.
The capital will be applied towards "own funds" requirements for its EEA authorised payment subsidiary, iSignthis eMoney Ltd (SWIFT BIC : ISEMCY21) trading as ISXPay(R), and also in accelerating the Company's strategy further by expanding sales and marketing activity.
The Company requests that the trading halt be lifted, and that normal trading commence.
Note: An Appendix 3B and Section 708(5) cleansing statement will follow next week based on finalisation of settlement figures.
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is a hybrid monetary financial institution and also a RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment, electronic money and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.
ISXPay(R) is a principal member of Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, PRZ24 and others.
Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.
| ||
|
