Results of Share Purchase Plan and additional placement
Sydney, April 5, 2016 AEST (ABN Newswire) - Invigor Group Ltd (
ASX:IVO) are pleased to provide the results of the latest Share Purchase Plan and advise on the additional placement.
Highlights:
- 140 eligible shareholders participated in Share Purchase Plan subscribing $939K
- Additional placement raising over $850K
- International institution cornerstone subscription
Invigor advises that it has raised approximately $1.8 million in new equity, comprising:
- $939,000 from approximately 140 eligible shareholders under the Share Purchase Plan (SPP) announced on 29 February 2016 (SPP Amount). The Company will issue 23,475,000 shares at an issue price of 4.0 cents per share in accordance with the timetable below; and
- Approximately $850,000 from a placement of shares to investors not eligible to participate in the SPP.
Further details are provided below.
Invigor Chairman and CEO, Gary Cohen, said: "The results of the SPP were particularly pleasing given 140 shareholders participated. We are also pleased an international institution has subscribed for a cornerstone part of the placement."
Timetable for completion of SPP
The anticipated timetable for the completion of the SPP is:
Allotment of Shares: 7 April 2016
Expected Trading Date: 11 April 2016
Despatch of holding statements: 11 April 2016
Note: Invigor retains the right to vary these dates without advance notice.
Additional Share Placement
During the course of the SPP, a number of institutional and professional investors who were not eligible to participate in the SPP expressed interest in investing in the Company. The Company has elected to make a share placement to these investors raising approximately $850,000 with the final amount and number of shares to be issued to be confirmed by 7 April 2016 (Placement Shares). Placement Shares will also be issued at a price of 4.0 cents per share. The Placement Shares will be allotted on 7 April 2016 with an expected trading date of 11 April 2016.
The Company thanks participating shareholders and new investors for their support.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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