On the 8 February 2018, Paragon Care Limited (ASX:PGC) announced a major initiative to raise $69.8 million in new capital through the issue of new shares in PGC (New Share) at an issue price of $0.725 per New Share. The capital raising is fully underwritten and comprises a $26.6 million institutional placement and an accelerated entitlement offer to raise approximately $43.2 million which includes a Retail Entitlement Offer. Under the Retail Entitlement Offer, Eligible Retail Shareholders1 can subscribe for 1 New Share for every 2.8 Shares held as at the Record Date of 12 February 2018 at an Issue Price of $0.725 per New Share, without paying and brokerage or transaction costs. Eligible Retail Shareholders who take up their full Entitlement may also apply for Additional New Shares in excess of their Entitlement up to a maximum of $25,000 per Eligible Retail Shareholder, at the issue price. The allocation of Additional New Shares will be at the discretion of the Board in consultation with the Underwriters and may be subject to scale back.
The Retail Entitlement Offer opens at 9.00am (Sydney time) on Thursday, 15 February 2018 and closes at 5.00 pm (Sydney time) on Monday, 26 February 2018. The ASX Announcement with further information and an indicative timeline is available here.
To participate in the Retail Entitlement Offer, click the link to access your Personalised Application form:
Note 1. You are an Eligible Retail Shareholder if:
- You were registered as a holder of Paragon Care Limited ordinary shares as at 7.00 pm (Sydney time) on Monday, 12 February 2018 being the Record Date;
- your registered address is in Australia or New Zealand;
- you are not an eligible Institutional Shareholder; and
- you are not in the United States and are not acting for the account of benefit of, a US Person (as defined in Regulation S under the United Stated Securities Act of 1933 as amended).
Paragon Care Limited has determined that, because of foreign securities laws, it is not practical for holders of Paragon Care Limited ordinary shares with registered addresses outside Australia and New Zealand to participate in the Retail Entitlement Offer. See the Retail Entitlement Offer Booklet (Important Notices, pages 3, 4, 22 and 23) for full details.