Highlights
The proposed capital raising is to be conducted in two tranches, being:
As part of the above capital raising initiative one option will also be issued for every two FPS’s subscribed for, containing an exercise price of $0.03 per option and an expiry date of 18 months (Option). The issue of the Options will be subject to shareholder approval at the Company’s AGM. It is intended that the Options will be listed on the Australian Securities Exchange (ASX), with further details to be provided as soon as they come to hand.
The expected timing for completion of the above capital raising is as follows:
LU7’s Executive Chairman, Iggy Tan, commented, “We are delighted with the outcome of this capital raising in a very difficult market, which demonstrates the strong support by sophisticated investors for our QLPH’s business strategy. I look forward to rewarding all shareholders by the anticipated success from this strategy”.
The capital raising has been led by the Company. However, in conducting the capital raising, the Company has used various brokers. For those brokers who introduced clients to the capital raising, a fee of 6% is to be paid to them.
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