Chapmans has completed a placement of shares to raise $2 million via the issue of 400,000,000 fully paid ordinary shares (Shares) at 0.5 cents ($0.005) (Placement). This Placement was approved by shareholders at the general meeting held 28 July 2017. The Company will issue the Placement Shares as soon as possible.
Chapmans also advises that it will be making a non-renounceable offer of Shares on the basis of one Share for every two Shares held at the record date (Offer). The timetable for the Offer will be announced shortly, including the record date. The issue price for the Offer will be consistent with the Placement at 0.5 cents ($0.005) per Share.
The funds raised under the Placement and Offer will be allocated towards increasing the Company's investment interest in its existing investments, and general working capital.
About Chapmans Limited
Chapmans Limited (ASX:CHP) is an ASX listed diversified investment company engaged in special situation investments across a diverse range of industries, with a focus and expertise in the mobile and advanced industrial technology sectors. It seeks to be an active strategic investor in high growth areas of the market, and to identify and work with emerging high growth companies.
The Company's investment philosophy and approach are based on a unique mix of high conviction and special situation features, characterised by advisory and equity investments structured around specific events and assets for both public and large private corporates.