Quote:
VMob Group Limited (VMob) announces that it is about to undertake a placement to raise up to NZ$3.0 million through the issue of up to 187.5 million ordinary shares at an issue price of NZ$0.016 per share (or 7.5 million ordinary shares at an issue price of NZ$0.40 per share post consolidation). The placement will be made to wholesale investors in New Zealand andsophisticated investors in Australia.
Consistent with the advice set out in the Company's investor presentation released to the market on 29 April 2015, VMob also confirms its intention to offer its New Zealand shareholders the opportunity to participate in a Share Purchase Plan (SPP), which will be launched later this month. The target raising from the SPP will be NZ$500,000 but the Company will reserve theright, at its discretion, to accept over-subscriptions. Pricing for the SPP will be the same as the pricing offered to those parties participating in the private placement.
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