- Clime Capital (CAM) is looking to bank $3.1 million after wrapping up an institutional share placement
- Eligible investors are set to receive fully paid CAM shares at a discounted price of 87 cents each, with proceeds expected to go towards Clime’s ASX investment activities
- A partially underwritten share purchase plan is also set to follow the placement, in a bid to raise $15 million
- Clime Capital closed today’s session down 2.25 per cent at 87 cents per share.
Clime Capital (CAM) is looking to bank $3.1 million after wrapping up an institutional share placement.
In exchange, eligible investors are set to receive new fully paid CAM shares at 87 cents per share, representing a 2.2 per cent discount on the last closing price of shares on Thursday February 11.
According to the investment company, proceeds from the placement will be used to invest in securities listed on the ASX and selective unlisted entities or funds, which CAM says align with its previously disclosed investment strategy.
As the placement was conducted utilising the company’s available placement capacity pursuant to ASX Listing Rule 7.1, shareholder approval is not required for the issue of the securities.
Settlement is scheduled to take place on February 26, with an issue date expected the first day of March.
Share Purchase Plan
Following the placement, CAM is also set to conduct a partially underwritten offer of new shares under a share purchase plan to raise up to $15 million to existing eligible shareholders.
Under the plan, shareholders can apply for up to $30,000 of new shares at the price of 87 cents each.
The share purchase plan is being partially underwritten by Sanlam up to either $2.5 million or the gross amount raised under the placement, whichever is larger.
Clime Capital closed today’s session down 2.25 per cent at 87 cents per share.