In addition to the above, two of the Company's directors have contributed a total of $500,000, that subject to shareholders' approval at a meeting to be held in November 2017 would result in the issuance of a further 12,500,000.
As a result of the placements, YPB has issued 85,625,000 ordinary shares at $0.04 per share, utilizing capacity available under ASX Listing Rules 7.1 and 7.1A. The Company will use the funds raised as stated in the prior ASX release to fund the first instalment of the Motif Micro acquisition and for additional working capital.
In accordance with Listing Rule 3.10.5A in relation to the shares issued under the Company's 7.1A capacity details of the placement are:
Effect of the raising
The effect of the announced raising and other issues since the commencement of the placement on the capital structure of the Company are set out in the link below.
The Board believe that the benefits flowing from the funds being raised quickly through these placements outweigh the inability of all shareholders to participate.
The issue was not underwritten and the direct costs of the raising are $126,100 plus GST commission on the funds raised under the placements.
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About YPB Group Ltd
YPB Group Ltd (ASX:YPB) is a pioneer in advanced brand protection solutions. Listed on the Australian Securities Exchange, YPB is expanding its global footprint with an established presence in Australia, China, Thailand, USA, Mexico, India and Pakistan.
YPB's patented Anti-Counterfeit technology combined with its Security Packaging and Anti-Theft solutions, Consulting Services and YPB's proprietary CONNECT platform enables clients to PROTECT their high value brands from the risks of counterfeit, product diversion and theft while providing the tools to CONNECT directly with their customers.
YPB Group Ltd