Bluechiip Limited Stock Market Press Releases and Company Profile
Rights Issue - Letters to Shareholders
Rights Issue - Letters to Shareholders

Melbourne, June 6, 2017 AEST (ABN Newswire) - Bluechiip Limited (googlechartASX:BCT) announced to the ASX a non-renounceable rights issue (Rights Issue) at an issue price of $0.028 per new share (New Share).

The Rights Issue offers shareholders whose registered addresses are within Australia and New Zealand (Eligible Shareholders) one (1) New Share for every three (3) fully paid ordinary shares held as at 7.00pm on Thursday 8 June 2017 (Record Date) to raise up to $2.53 million before costs. The Rights Issue is not underwritten.

The Rights Issue is being conducted pursuant to an offer document dated 5 June 2017 issued in accordance with section 708AA of the Corporations Act (as modified by ASIC Instrument 2016/84).

You will receive your copy of the Offer Booklet and the Entitlement and Acceptance Form shortly.

The Offer Document has also been lodged with the ASX and is available on http://abnnewswire.net/lnk/80127243

Any New Shares not taken up by Eligible Shareholders under the Rights Issue will be shortfall shares and can be applied for by other Eligible Shareholders under the top-up facility.

The funds raised will, after payment of costs and expenses, to support the development and release of OEM products through partners, to build inventory and to fund ongoing working capital requirements.

Summary of key Information

Type of Offer: Non-renounceable rights issue

Issue Ratio: 1 New Share for every 3 existing shares held on the Record Date

Issue Price: $0.028 cents per New Share

Issue Price Discount: Approximately 10% to the market closing price of $0.031 per share on 31 May 2017

Approximately a 18% discount to the 3 month VWAP of $0.034 to 31 May 2017

New Shares Issued: Up to approximately 90,603,364 New Shares (to be quoted on ASX). Following completion of the Offer the Company will have approximately 362,413,456 shares on issue

Ranking of New Shares: The New Shares will be fully paid and will rank equally in all respects with the Company's existing issued ordinary shares

Funds Raised: Up to $2.53 million before costs, if fully subscribed

Shareholder approval of the Rights Issue is not required. The Rights Issue is undertaken without a prospectus in accordance with section 708AA of the Corporations Act 2001 (Cth) (Act).

Timetable (see Note 1)

Event: Initial announcement of Rights Issue
Date: Thursday 1 June 2017

Event: Lodgement of Rights Issue Offer Booklet, Cleansing Notice in respect of the Rights Issue and Appendix 3B
Date: Monday 5 June 2017

Event: Dispatch of letter to shareholders
Date: Tuesday 6 June 2017

Event: "Ex" Date (i.e. date from which securities commence trading without the entitlement to participate in the Rights Issue)
Date: Wednesday 7 June 2017

Event: Record Date (i.e. date for determining entitlement to participate in the Rights Issue)
Date: Thursday 8 June 2017

Event: Rights Issue Opening Date. Dispatch of Offer Booklet and personalised Entitlement and Application Form
Date: Tuesday 13 June 2017

Event: Closing Date (Last day for acceptance and payment in full)
Date: Friday 30 June 2017

Event: Company notifies ASX of under-subscriptions
Date: Friday 7 July 2017

Event: Allotment of Rights Issue Shares and despatch of holding statements.
Date: Friday 7 July 2017

Event: Expected commencement of normal trading in New Shares on ASX
Date: Monday 10 July 2017

Note 1: This timetable is indicative only. The Company reserves the right, subject to the ASX Listing Rules, to amend the indicative timetable. In particular, the Company reserves the right to extend the closing date or to withdraw the Rights Issue without prior notice.

Taking up your entitlements may have taxation, financial and other implications. If you are in any doubt as to how to deal with your rights, you should contact your stockbroker or other professional adviser.

To view the full release, please visit:
http://abnnewswire.net/lnk/8V3ZAP16


About Bluechiip Limited

Bluechiip Ltd ASX BCTBluechiip Ltd (ASX:BCT) understands that every sample - stem cells, blood, eggs, sperm and other biospecimens - is critical, so our objective is to manage each one with optimal quality in the most efficient way. Bluechiip's advanced management solution is the only one that provides sample temperature with ID in cryogenic environments to. Most importantly, this delivers confidence in every sample.

Bluechiip's unique patented technology is a MEMS-based wireless tracking solution that contains no electronics. It represents a generational change from current tracking methods such as labels (hand-written and pre-printed), barcodes (linear and 2D), and Radio Frequency Identification. Bluechiip tags are either embedded or manufactured into storage products such as vials or bags. Each product can be easily identified, and critical information such as sample temperature, is detected by readers and stored in the Bluechiip software. In addition to functioning in extreme temperatures, the Bluechiip(R) Advanced Sample management solution can survive autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.

Bluechiip's technology has applications in healthcare, including in cryogenic storage facilities (biobanks and biorepositories), pathology, clinical trials and forensics. Other key markets include cold-chain logistics/supply chain, security/defence, industrial/manufacturing and aerospace/aviation.

Bluechiip: Delivering confidence in every sample.

 

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Contact

Corporate enquiries
Andrew McLellan
Managing Director - CEO
Ph: +61-457-823-470
andrew.mclellan@bluechiip.com

Media
Richard Allen
Ph: +61-3-9915-6341
Oxygen Financial PR
richard@oxygenpr.com.au



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