Shareholder Share Purchase Plan 2009
The Company’s Share Purchase Plan announced on 16 June 2009 and 29 June 2009 has been completed successfully, with $4.924m being raised out of the $5m sought by the Company. The Board of Austin would like to thank shareholders for their ongoing solid support for the company. As announced previously, funds raised under the plan will provide additional working capital and will also enable the company to pursue its growth plans, particularly into South America. The original details and terms and conditions of the plan are reproduced below for reference.
29 June 2009
The Board of Directors is pleased to announce that it is offering shareholders the opportunity to participate in the Company's Share Purchase Plan (Plan) that was announced on 16 June 2009.
Under the Plan, existing Shareholders are invited to purchase additional fully paid ordinary shares in the Company (Shares) at $1.45 per Share, up to a maximum value of $5,000. The price of $1.45 per Share represents a discount of 17.6% to the volume weighted average price of the Company's shares over the five trading days prior to announcing the Plan on 16 June 2009.
The Plan has been structured to encourage our loyal Shareholders to increase their holding and interest in the Company.
The Plan will be offered to Shareholders recorded on the register of members with a registered address in Australia or New Zealand at 7.00pm (Brisbane time) on Friday 12 June 2009.
The Company is seeking to raise $5.0 million under the Plan and the funds raised will be used to provide the Company with further working capital and to reduce gearing. The Plan will be capped at $5.0 million, with any scale-back to be undertaken on a pro rata basis.
The Terms and Conditions of the Plan are set out in this document here. If you make an application to purchase Shares under the Plan, you will have agreed to be bound by those Terms and Conditions.
The indicative timetable for the Plan is as follows:
| Opening date of offer Closing date of offer Issue of shares under the plan Quotation of shares on ASX |
29 June 2009 17 July 2009 29 July 2009 30 July 2009 |
Please note that the closing date of the Plan is 5.00 pm (Brisbane time) on Friday 17 July 2009. If you wish to participate in the Plan please follow the instructions outlined in the Application Form so that your Application Amount is received at our Share Registry by that date.
If you have any questions on the Plan, please call Advanced Share Registry Services Ltd on 08 9389 8033, Monday to Friday, between 8.30am and 5.30pm (WST). We look forward to receiving your support for the Plan.
Please click here for full details of the Plan.