The administrators (Administrators) of Vitality Applied sciences Restricted (ASX: EGY) ACN 002 679 469 (Firm) are happy to give you the chance to take part in a non-renounceable rights difficulty on the idea of 1 new absolutely paid strange share within the Firm (every, a New Share) for each 1 present share within the Firm (every, a Share) held on the File Date held (Entitlement) at a problem worth of $0.03 (3 cents) per New Share (Supply Value) to boost roughly $12.7 million (earlier than prices) (Supply).
Shaw and Companions Restricted have been appointed as lead supervisor of the Supply. The Supply isn’t underwritten.
The Supply is accessible to all Shareholders who’re, as at 7.00pm (Melbourne time) on 17 September 2024 (File Date), registered (in accordance with the data of the Firm’s Share Registry) with a registered handle in Australia, New Zealand and sure shareholders in the UK (Eligible Shareholders).
Underneath the Supply, Eligible Shareholders are additionally capable of apply for New Shares in extra of their Entitlement (Further New Shares). The allocation of Further New Shares and any reduce might be topic to the provision of Further New Shares and the Firm’s absolute discretion.
The Supply Value ($0.03 (3 cents)) represents a:
- 14.3% low cost to the final traded worth of A$0.035 as at 11 September 2024;
- 14.3% low cost to the 10-day quantity weighted adjusted worth of A$0.035 as at and together with 11 September 2024; and
- 7.7% low cost to theoretical ex-rights worth of A$0.033.
Please observe that Further New Shares will solely be allotted to you if there are enough New Shares from Eligible Shareholders who don’t take up their full Entitlement or from New Shares that might have been supplied to Ineligible Shareholders had they been eligible to take part within the Supply (Shortfall). As well as, the Firm intends to permit the Lead Supervisor (outlined beneath) to put any Further New Shares beneath a Shortfall in its absolute discretion.
The gross proceeds of the Supply might be utilized by the Firm to scale back debt, develop EGY’s gross sales division, and replenish normal working capital reserves. Proceeds may also be utilized to the prices of enterprise the Supply.
The professional forma consolidated steadiness sheet illustrates the impact of the Supply on the monetary place of the Firm.
The Supply is to be made pursuant to s708AA of the Firms Act and could also be summarised as follows:
- Australian and New Zealand residents and sure shareholders from the UK holding Shares could subscribe beneath the Supply for 1 New Share for each 1 Share held as on the File Date.
- The Supply of roughly 422,074,788 New Shares to an quantity of roughly $12.7 million (earlier than prices).
- New Shares are priced at $0.03 (3 cents) per New Share.
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