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  • ASF Group Rights Issue Is Oversubscribed, Raises $10M 0 comments
    Aug 5, 2014 10:09 PM

    ASF Group's (ASX:AFA) rights issue closed oversubscribed raising $10,056,629, with an over-subscription of 6,627,188 shares above the total.

    The pro-rata non-renounceable 1 for 8 rights issue closed on Thursday, 31 July 2014.

    Total received applications from eligible shareholders for entitlements was for 39,433,711 new shares, totalling $7,098,068 and applications under the shortfall facility for 23,063,639 of shortfall shares, totalling $4,151,455.

    The company said it will accept in full all eligible shareholders applications including all shortfall applications except for part of the shortfall application from a director of the Company whose applications for shortfall shares was scaled back at the company's discretion.

    The allotment of the New Shares will be completed on Thursday, 7 August 2014.

    Given the offer was oversubscribed, no new shares are required to be taken up by the underwriters of the offer.

    The company finished the June quarter with $2,502,698 at bank.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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