17 November 2020
Pureprofile Limited (ASX: PPL or the Company), wishes to advise that its pro rata renounceable rights issue to eligible shareholders (the Entitlement Offer) has now closed and thanks shareholders for their strong participation into the raising. The Company will make a further announcement concerning the results of the Entitlement Offer by no later than Friday, 20 November 2020.
Any shares that were not taken up under the Entitlement Offer will make up the shortfall of shares to be made available to new investors and existing shareholders under a shortfall offer (the Shortfall Offer). The Entitlement Offer and Shortfall Offer are fully underwritten and, together, will raise approximately $18.8m1.
The Shortfall Offer
Investors, including existing shareholders, can subscribe for shares at an issue price of $0.02 per share under the Shortfall Offer. Full details of the Shortfall Offer can be found in the Prospectus lodged with the ASX on 19 October 2020 (Prospectus).
Investors who wish to participate in the Shortfall Offer can request an allocation and apply at – https://pureprofile.investorportal.com.au/pplshortfall.
Pursuant to the timetable in the Prospectus, shares under the Shortfall Offer are expected to be issued by 8 December 2020, however, the Board reserves its right to close the Offer at any time and issue shares under the Shortfall Offer at its discretion. Accordingly, the Board encourages participating investors to submit their application and payment as soon as possible.
The Shortfall Offer is subject to availability of shares, the Prospectus issued by the Company, the Corporations Act 2001 (Cth) and the ASX Listing Rules.
Information for investors
Full details of the Shortfall Offer, including the potential control implications, a summary of the underwriting agreements and fees payable to the underwriters, as well as a summary of key risks associated with an investment in the Company, are contained in the Prospectus.
If you have any questions regarding the Shortfall Offer please contact Reach Markets on 03 8080 5795 or email advisers@reachmarkets.com.au.
Additional commentary to the Appendix 4C
With reference to the Appendix 4C released to the ASX on 29 October 2020, the Company wishes to advise that the payments to related parties disclosed in item 6 were directors fees in respect of the September 2020 quarter.
This announcement has been authorised by the Board of Pureprofile Ltd.
1Up to ~$15.3m of the capital raise is underwritten by the Company’s existing lender, Lucerne Finance Pty Ltd (Lucerne). A primary purpose of the capital raise is to repay part of the Company’s existing debt with Lucerne and to the extent that Lucerne underwrites the raise, this will be effected by way of a debt to equity conversion.
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