Examples of Capital Raising Shares in a sentence
On 13 October 2021, the Company announced that it has raised total gross proceeds of approximately US$102 million through an equity raising (Capital Raising) by the conditional placing of 49,350,000 Shares (Capital Raising Shares) at A$2.80 (£1.5174) each.
If Resolutions 1 to 3 are not passed, the Capital Raising Shares will be included in calculating the Company’s combined 25% limit in Listing Rules 7.1 and 7.1A, effectively decreasing the number of equity securities the Company can issue without Shareholder approval over the 12-month period following the date of issue of the Capital Raising Shares.
The issue of the Capital Raising Shares does not fit within any of the exceptions set out in Listing Rule 7.2 and, as it has not yet been approved by Shareholders, it effectively uses up part of the 25% limit in Listing Rules 7.1 and 7.1A, reducing the Company’s capacity to issue further equity securities without Shareholder approval under Listing Rule 7.1 and 7.1A for the 12 month period following the date of issue of the Capital Raising Shares.
The issue of the Capital Raising Shares does not fit within any of the exceptions set out in Listing Rule 7.2 and, as it has not yet been approved by Shareholders, it effectively uses up part of the 15% limit in Listing Rule 7.1, reducing the Company’s capacity to issue further equity securities without Shareholder approval under Listing Rule 7.1 for the 12 month period following the date of issue of the Capital Raising Shares.
If Resolutions 1 to 3 are passed, the Capital Raising Shares will be excluded in calculating the Company’s combined 25% limit in Listing Rules 7.1 and 7.1A, effectively increasing the number of equity securities the Company can issue without Shareholder approval over the 12-month period following the date of issue of the Capital Raising Shares.
The third condition is about their involvement in the change process and their contribution to successful implementation.
This Resolution seeks Shareholder ratification pursuant to Listing Rule 7.4 for the issue of the Capital Raising Shares.
On Settlement, the Company proposes to issue the Consideration Shares, the Performance Shares, the Public Capital Raising Shares and the Noteholder Shares.
Any additional equity financing may be dilutive to Shareholders, may be undertaken at lower prices than the current market price (or the price of the Capital Raising Shares) or may involve restrictive covenants which limit the Company's operations and business strategy.
On completion of the Acquisition, the Company proposes to issue up to 60,000,000 Capital Raising Shares.