Entitlement Issue - Letter to Eligible Shareholders
Sydney, Sep 19, 2018 AEST (ABN Newswire) - Collaborate Corporation Limited (
ASX:CL8) (ACN 066 153 982) (the Company or Collaborate) is undertaking a non-renounceable entitlement issue to shareholders of up to 77,389,732 new fully paid ordinary shares (New Share) at an issue price of $0.015 each to raise up to approximately $1,160,846, before costs (Entitlement Issue or Offer). The Company lodged a prospectus for the Offer (Prospectus) with ASIC and ASX on 14 September 2018.
The Offer is underwritten up to a total of $0.6 million by existing shareholders of the Company (Non-Related Underwriters) and Mr Chris Noone, Mr Adrian Bunter and Ms Karen Logan, officers of Collaborate (Officer Underwriters). The Company must pay the Non-Related Underwriters an underwriting fee of 5% of any amount underwritten by the Non-Related Underwriters in accordance with the terms of the underwriting agreements.
The funds raised form the Offer are currently intended to be used to provide funding for customer acquisition, sales and marketing activities and marketplace growth, to support the launch of new initiatives and for working capital and general corporate purposes.
The Entitlement Issue will be offered to shareholders registered at the Record Date (as defined below) with a registered address in Australia and New Zealand (Eligible Shareholders) on the basis of one (1) New Share for every eight (8) Shares held.
New Shares will rank equally with all fully paid ordinary shares in the capital of the Company already on issue.
Actions required of Eligible Shareholders
There are a number of actions Eligible Shareholders may take:
- You may wish to accept all of your rights to subscribe for New Shares pursuant to the Prospectus (Entitlement). To take up all of your Entitlement you will need to ensure your application money for the Entitlement you wish to take up is received by Automic (Share Registry) by no later than 5:00pm (AWST) on 15 October 2018, by completing and returning your Entitlement and Acceptance Form together with your cheque, drawn on an Australian bank or bank draft made payable in Australian currency to "Collaborate Corporation Limited", for the amount indicated on the Entitlement and Acceptance Form OR making a payment by BPAY in accordance with the instructions on your Entitlement and Acceptance Form (at $0.015 per New Share).
- You may take up all of your Entitlements and apply for Shares under the Shortfall Offer. To take up your Entitlement and apply for Shares under the Shortfall Offer you will need to ensure your application money for your Entitlement and the Shares you wish to apply for under the Shortfall Offer is received by the Share Registry by no later than 5:00pm (AWST) on 15 October 2018, by completing and returning your Entitlement and Acceptance Form (including the Shares under the Shortfall Offer that you wish to apply for) together with your cheque, drawn on an Australian bank or bank draft made payable in Australian currency, for the amount indicated on the Entitlement and Acceptance Form plus the amount being applied for under the Shortfall Offer OR making a payment by BPAY in accordance with the instructions on your Entitlement and Acceptance Form (at $0.015 per New Share).
- You may wish to accept part of your Entitlement. To take up part of your Entitlement you will need to ensure your application money for the Entitlement you wish to take up is received by the Share Registry by no later than 5:00pm (AWST) on 15 October 2018, by completing and returning your Entitlement and Acceptance Form by filling in the number of New Shares you wish to accept in the space provided on the Entitlement and Acceptance Form together with your cheque, drawn on an Australian bank or bank draft made payable in Australian currency to "Collaborate Corporation Limited", for the appropriate application monies OR making a payment by BPAY in accordance with the instructions on your Entitlement and Acceptance Form (at $0.015 per New Share).
- You may do nothing. If you choose to do nothing with your Entitlement, while you will continue to hold the same number of Shares, your interest in the Company will be diluted and you will receive no value for your Entitlement.
Key dates for the Offer*
Event: Lodgement of Prospectus with the ASIC
Proposed Date: 14 September 2018
Event: Lodgement of Prospectus and Appendix 3B with ASX
Proposed Date: 14 September 2018
Event: Notice sent to Shareholders
Proposed Date: 19 September 2018
Event: Ex date
Proposed Date: 20 September 2018
Event: Record Date for determining Entitlements
Proposed Date: 21 September 2018
Event: Prospectus sent out to Shareholders and the Company announces this has been completed
Proposed Date: 24 September 2018
Event: Closing Date
Proposed Date: 15 October 2018
Event: Shares quoted on a deferred settlement basis
Proposed Date: 16 October 2018
Event: ASX notified of under subscriptions
Proposed Date: 17 October 2018
Event: Issue date for Shares. Deferred settlement trading ends.
Proposed Date: 22 October 2018
Event: Quotation of Shares issued under the Offer
Proposed Date: 23 October 2018
*All dates, other than the date of lodgement of the Prospectus with ASIC, are indicative only. The Company reserves the right to amend any of the important dates without prior notice but subject to the Corporations Act and the ASX Listing Rules.
Shares - Completion of Entitlement Issue
Following completion of the Offer and assuming full subscription, the Company will have issued approximately 77,389,732 New Shares resulting in total Shares on issue of approximately 696,507,589.
In calculating entitlements under the Entitlement Issue fractions will be rounded down to the nearest whole number.
If you require further information, please contact the Company Secretary via email at shareholder@collaboratecorp.com.
To view Entitlement Issue - Letter to Ineligible Shareholders, please visit:
http://abnnewswire.net/lnk/832440W0
About Collaborate Corporation Ltd
Collaborate Corporation Limited is listed on the Australian Securities Exchange (ASX:CL8). It is Australia's leading listed company focused on 'collaborative consumption', 'peer-to-peer' or 'sharing economy' businesses. Collaborate currently has three core business segments: www.DriveMyCar.com.au Australia's leading peer-to-peer car rental business; www.MyCaravan.com.au Australia's leading peer-to-peer caravan rental business; and www.Mobilise.com an online hire marketplace to unlock the enormous potential of under-utilised assets. Through our proprietary trust and reputation platform, www.peerpass.com.au we create 'trust' between individuals and make it possible for people to safely transact with each other in the sharing economy.
| ||
|
