Placements::Allotment and Issuance of Placement Shares
Issuer & Securities
ALLIANCE MINERAL ASSETS LIMITED
ALLIANCE MINERAL ASSETSLIMITED - AU0000XINEV7 - 40F
Date &Time of Broadcast
Announcement Sub Title
Allotment and Issuance of Placement Shares
Submitted By (Co./ Ind. Name)
Pauline Therese Gately
Description (Please provide a detailed description of the event in the box below)
Please refer to the attached:-
(1) Only 13,000,000 shares and not the entire proposed allotment and issuance of 23,875,115 New Ordinary Shares in the Capital of the Company, as stated on the circular dated 1 Jun 18, had been allotted to Burwill Holidngs Limited at agreed offer price of S$0.33 per placement share.
(2) The allotment and issuance of 3,500,000 New Ordinary Shares in the capital of the company to the entitled directors and entitled executive is free, based on shareholders approvals obtained from the Extraordinary General Meeting held on 25 Jun 2018.
(3) There is a total of 10,875,115 number of new ordinary shares left over after the allotment and issuance of 13,000,000 no of new ordinary shares in the capital of the company, not fully taken up by Burwill Holding Limited.
(4) As such, the Company had on 4 July 2018 after the close of market trading appointed Canaccord Guity Australia Limited as placement agent and underwriter to place out 10,875,115 new Shares ( Underwritten Placement Shares ) at S$0.34 each ( Placement Price ) to raise gross proceeds of approximately S$3,697,540 ( Underwritten Placement ).
(5) The new placement price of S$0.34 represents a discount of approximately 8.7% to the volume weighted average price of S$0.3725 for the trades done on the Company s shares on the SGX-ST on 4 July 2018, being the full market day on which a new placement and underwriting agreement Limited was signed.
(6) The new Placement Price was derived following arm length negotiations between the Company and Canaccord, taking into account the prevailing Share price and the financial position and prospects of the Group.
(7) 3,275,115 had been agreed to be placed out to Tribeca Investments Partners Pty Ltd and 7,600,000 Underwritten Placement Shares subscribed for by Cannacord as underwriter.
(8) The Underwritten Placement is expected to complete by the third week of July 2018, upon approval for dealing in, listing and quotation of the underwritten Placement Shares on the Catalist being received from the SGX-ST.
(9) The offer price indicated below is the offer price for the allotment of 13million number of New Shares to Burwill Holding Limited.
No. of Existing Outstanding Shares
New Shares Issued
5 July 18 Completion of Allotment of New Shs to Burwill Entitled Dir Execs n Signing New Underwritten Placement.pdf
Total size =624K