ThinkSmart Successfully Completes Retail Offer

ThinkSmart Successfully Completes Retail Offer

ThinkSmart Limited today announced the completion of the retail component of its fully underwritten 1 for 5 accelerated non renounceable entitlement offer (“Entitlement Offer”).

The approximately $9 million fully underwritten Entitlement Offer comprised an institutional component which raised approximately $3 million, and a retail component of approximately $6 million (“Retail Entitlement Offer”).

The Retail Entitlement Offer which closed on 16 March 2012 was well supported by existing retail shareholders, with applications for approximately 10 million new shares received. This resulted in a take-up of approximately 70% by all eligible shareholders including the 100% take up of the institutional component of the offer.

As the Entitlement Offer is fully underwritten, the total amount that will be raised under the Retail Entitlement Offer remains approximately $9 million, with shortfall shares to be issued to institutional subscribers / sub-underwriters.

“We are delighted that both components of the Entitlement Offer, and our new product strategy, were strongly supported by ThinkSmart shareholders,” noted Ned Montarello, Executive Chairman and CEO of ThinkSmart.

New shares issued pursuant to the Retail Entitlement Offer will rank equally with existing ordinary shares in ThinkSmart Limited. The shares issued through the Retail Entitlement Offer are expected to be allotted on Tuesday, 27 March 2012 and commence trading on the ASX on Wednesday, 28 March 2012.

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