The SPP closed at 5:00pm (AEDT) on 21 February 2017.
The SPP was heavily oversubscribed. MNF received valid applications from 1,027 eligible shareholders with subscriptions totalling $11.1m. As a result of the oversubscription all valid applications will be scaled back in an equal proportion at approximately 27% of application payments.
Refund payments for ineligible applications and for the oversubscribed amounts will be processed and returned to shareholders commencing on 2 March 2017.
Successful eligible applicants will be issued new shares at $4.50 per share on 28 February 2017, with holding statements to follow shortly after that.
The Board wishes to thank all those shareholders who participated in the SPP for their continuing support of the company.
About MNF Group Ltd
MNF Group Limited (ASX:MNF) is one of Asia-Pacific’s fastest growing technology companies. Listed on the ASX since 2006, it is now capitalised at around $300M, and twice winner of the Forbes Asia-Pacific “Best under a Billion” award. Headquartered in Sydney, Australia, the company has over 250 people located across Asia-Pacific, Europe and North America. MNF develops and operates a global communications network and software suite enabling some of the world’s leading innovators to deliver new-generation communications solutions.
As the world moves to IP, MNF Group is building the brands, services, network and technology to lead the way.
MNF Group Ltd