Extension of Share Purchase Plan
Oventus is receiving increased enquiries regarding the SPP and the Board has decided to extend the SPP closing date given the relatively short period before the SPP closes under the original timetable. This extension will allow eligible shareholders additional time to consider submitting their SPP applications.
Under the SPP eligible shareholders are able to subscribe for up to $15,000 worth of ordinary shares in Oventus at an issue price of $0.36 per share without brokerage fees.
An updated SPP timetable is as follows:
SPP Record Date (at 7:00 p.m. Brisbane time): Wednesday 21 June 2017
SPP Closing Date (at 5:00 p.m. Brisbane time): Monday 31 July 2017
Date of the issue of the securities under the SPP: Monday 7 August 2017
ASX quotation of the securities under the SPP: Tuesday 8 August 2017
About Oventus Medical Ltd
Oventus Medical Ltd (ASX:OVN) is a Brisbane based medical device company that is commercialising a unique treatment platform for the treatment of sleep apnoea and snoring. Unlike other oral appliances or CPAP interfaces, the Oventus devices have a unique and patented airway within the treatment platform that allows air to flow to the back of the mouth unobstructed while maintaining an oral seal and stable jaw position, bypassing multiple obstructions from the nose, soft palate and tongue, reducing airway collapsibility and managing mouth breathing while maintaining a stable airway. They are particularly designed for the many people that have nasal obstructions and consequently tend to mainly breathe through their mouth. While it may seem counterintuitive, this technology actually manages mouth breathing by converting it to device breathing and normalising ventilation. The O2Vent is designed to allow nasal breathing when the nose is unobstructed, but when obstruction is present, breathing is supplemented via the airways in the appliance.
Oventus Medical Ltd