HRL Holdings Limited
Level 8 Waterfront Place, 1 Eagle Street
Brisbane Queensland 4000, Australia
GPO Box 216
Brisbane Queensland 4001, Australia
Tel +61 7 3105 5960
11 March 2015
ASX Announcement
Notification of Offer Shortfall
HRL Holdings Limited (ASX:HRL) confirms that its Prospectus Offer, of up to 76,923,077
New Shares on a post-Consolidation basis at an Offer Price of $0.065 per New Share to raise $5 million, closed at 5pm (AEST) on Friday, 6 March 2015.
HRL gives notice of the total subscriptions for the Offer as follows:
The total of applications received is for 6,244,839 new shares, raising $405,914.54. The number of new shares offered under the Offer was 76,723,077 shares - thereby resulting in a shortfall of 70,678,238 shares ('shortfall shares') under the offer.
The offer was fully underwritten to the full $5 million by Tulla Property Partners Pty Ltd, an entity associated with Mr Kevin Maloney, the Chairman of HRL, with sub-underwriting commitments for $3.5 million. As a result the Underwriters will arrange for subscriptions for the shortfall shares.
HRL Executive Director Darren Anderson noted that it was very pleasing to see the Offer well supported by direct applications and by way of underwriting commitments from existing and new shareholders, "Now that the Offer has closed, HRL will complete the issue of shares with subscriptions from the underwriters. The funds will ensure that the Company is in a position to complete the acquisition of New Zealand based Precise Consulting and to meet the requirements to enable the company to re-list on ASX following the receipt of
shareholder approval, at the EGM held on 2 March 2015, for the change of activities. HRL is now well-placed to pursue the growth of its environmental laboratory businesses."
On behalf of the Board
Paul Marshall
Company Secretary
For further information contact
Mr Paul Marshall Company Secretary Ph: +61 7 3149 2113
[email protected]
www.hrlholdings.com | ABN 99 120 896 370 | ASX Code: HRL