Results of Open Offer and Placing
The Company has received valid acceptances from Qualifying Shareholders under their Basic Entitlements in respect of 12,119,086 Open Offer Shares, and applications from Qualifying Shareholders under the Excess Application Facility in respect of a further 6,670,335 Open Offer Shares.
- The Company has received valid acceptances from Qualifying Shareholders under their Basic Entitlements in respect of 12,119,086 Open Offer Shares, and applications from Qualifying Shareholders under the Excess Application Facility in respect of a further 6,670,335 Open Offer Shares.
- Total acceptances from Qualifying Shareholders under the Open Offer were accordingly received in respect of 18,789,421 Open Offer Shares, representing 62.2 per cent of the shares available to be applied for under the Open Offer.
- Pursuant to the Open Offer and Placing, including the exercise of the Broker Option, 19,697,355 Warrants will be granted to applicants under the Open Offer and placees under the Placing.
- The net proceeds of the Placing, including the Broker Option, and Open Offer will provide the Company with sufficient funding for at least the next 12 months and will enable OTAQ to pursue the future strategy laid out in the Circular.