Proposed issue of securities
Announcement Summary
Entity name
PROBIOTEC LIMITED
Announcement Type
New announcement
Date of this announcement
Tuesday November 10, 2020
The Proposed issue is:
A placement or other type of issue
Total number of +securities proposed to be issued for a placement or other type of issue
Maximum Number of | ||
ASX +security code | +Security description | +securities to be issued |
PBP | ORDINARY FULLY PAID | 11,216,830 |
Proposed +issue date
Thursday December 31, 2020
Refer to next page for full details of the announcement
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Proposed issue of securities
Part 1 - Entity and announcement details
1.1 Name of +Entity
PROBIOTEC LIMITED
We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.
1.2 | Registered Number Type | Registration Number |
ABN | 91075170151 | |
1.3 | ASX issuer code | |
PBP |
- The announcement is New announcement
- Date of this announcement
Tuesday November 10, 2020
1.6 The Proposed issue is:
A placement or other type of issue
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Proposed issue of securities
Part 7 - Details of proposed placement or other issue
Part 7A - Conditions
7A.1 - Are any of the following approvals required for the placement or other type of issue?
+Security holder approval
Court approval
Lodgement of court order with +ASIC
ACCC approval
FIRB approval
Another approval/condition external to the entity
No
Part 7B - Issue details
Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?
Existing class
Will the proposed issue of this +security include an offer of attaching +securities?
No
Details of +securities proposed to be issued
ASX +security code and description
PBP : ORDINARY FULLY PAID
Number of +securities proposed to be issued
11,216,830
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
PBP is proposing to issue: (1) approximately 3,975,000 fully paid ordinary shares in PBP as the up front consideration (Upfront Consideration Shares) at completion of the acquisition of all of the shares in Multipack-LJM Pty Ltd and LJM Marketing Services Pty Ltd (Multipack-LJM Acquisition); (2) up to a maximum of approximately 7,241,830 fully paid ordinary shares (in aggregate) in PBP issued as the deferred consideration, subject to the achievement of particular milestones and provided that PBP elects to do so (Deferred Consideration Shares), in connection with the Multipack-LJM Acquisition.
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Proposed issue of securities
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
20,083,250.000000
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes
Part 7C - Timetable
7C.1 Proposed +issue date
Thursday December 31, 2020
Part 7D - Listing Rule requirements
7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No
7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
Yes
7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?
Up to a maximum of approximately 3,975,000 Deferred Consideration Shares with:
- 50% (1,987,500) released from escrow 1 year after completion of the Multipack-LJM Acquisition
- 50% (1,987,500) released from escrow 2 years after completion of the Multipack-LJM Acquisition
7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?
No
7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No
7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No
7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? Yes
7D.4a Please enter the number and +class of the +securities subject to +voluntary escrow and the date from which they will cease to be subject to +voluntary escrow
Approximately 3,975,000 shares with:
- 50% (1,987,500 shares) released from escrow 1 year after completion of the announced acqusition of Multipack-LJM
- 50% (1,987,500 shares) released from escrow 2 years after completion of the announced acqusition of Multipack-LJM
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Probiotec Limited published this content on 09 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2020 21:50:07 UTC