Azure Healthcare Limited (ACN 108 208 760) (ASX: AZV) (Azure or the Company) is pleased to announce the successful placement of 28,456,731 new fully paid ordinary shares in the Company to sophisticated, professional and institutional investors at an issue price of $0.070 per share, to raise $1,991,971 (Placement).

In conjunction with the Placement, the Company’s Directors are also pleased to provide notice to Eligible Shareholders for the opportunity to participate in a 1:15 pro-rata, non-renounceable rights offer (Rights Offer) to raise up to $1,018,119.

The Company’s Directors unanimously support the Rights Offer, and all Directors that hold Azure shares intend to take up their full pro-rata entitlement.

The shares issued pursuant to the Rights Offer will be issued at the same price as issued under the Placement, being $0.070 per share (Offer Price ).

The Offer Price reflects a 5.7% discount to the 5 day volume weighted average trading price (VWAP) of the Company’s shares for the period ended on 22 November 2016. The Placement and, if fully subscribed, the Rights

Offer, will raise a total of $3,010,090. The funds raised from the Placement and Rights Offer (net of offer expenses) will be used by the Company to repay debt and for working capital purposes…. (Read more in Official Release)

Read Official Release Here

 

For further information, please contact:

Mr Jason D’Arcy
Company Secretary
Telephone AUS: +614 1767 7732
Telephone US: +1 214 930 2233
Email: jason.darcy@azurehealthcare.com.au