Cleansing Notice - Shortfall Placement
Released
Released
Announcement PDF
ASX Announcement
15 December 2023
Cleansing Notice under Section 708A(5)(e) of the Corporations Act
Verbrec Limited (ASX : VBC) (Verbrec or the Company) provides this notice
(Cleansing Notice) under section 708A(5)(e) of the Corporations Act 2001 (Cth)
(Corporations Act).
On 20 November 2023, Verbrec announced to the market that it had successfully
placed 33,150,000 ordinary fully paid shares in Verbrec (Shares) at a price of $0.06
(Placement) raising approximately $1.99 million.
Verbrec, at the same time, announced the launch of a non-renounceable
entitlement offer to existing eligible shareholders in Australia and New Zealand of 1
new Share for every 6.5 Shares held on the record date, also at a price of $0.06
(Entitlement Offer), noting that existing and new institutional investors and senior
management of the Company had pre-committed to taking up their entitlements in
the Entitlement Offer and / or a first right over any available shortfall (Shortfall
Placement).
The Company today advises that it has issued 14,107,992 ordinary fully paid Shares of
ASX : VBC in the Shortfall Placement to institutional, wholesale and sophisticated
investors.
Details of the securities issued under the Placement
Class of securities
Ordinary fully paid shares
ASX code
VBC
Date of issue
15 December 2023
Total number of shares issued
14,107,992
The Company gives notice under section 708(5)(e) of the Corporations Act that:
(a) The Shares have been issued without disclosure to investors under Part 6D.2 of
the Corporations Act and without a prospectus being prepared;
(b) As a disclosing entity, the Company is subject to regular reporting and
disclosure obligations;
(c) As at the date of this Cleansing Notice, the Company has complied with:
(i)
The provisions of Chapter 2M of the Corporations Act as they apply to
the Company; and
(ii)
Section 674 & 674A of the Corporations Act; and
Verbrec Limited
Share Registry
ASX : VBC
ACN: 127 897 689
Computershare Investor Services Pty Ltd
Ph: +61 3 9415 4000
Verbrec.com
computershare.com
(d) As at the date of this Cleansing Notice, there is no ‘excluded information’ of
the type referred to in sections 708A(7) or 708A(8) of the Corporations Act
which is required to be disclosed by the Group under section 708A(6)(e) of the
Corporations Act.
An Appendix 2A relating to the quotation of the Shares was published 14 December
2023.
- ends –
Authorised for release by the Board of Directors of Verbrec Limited.
Company Enquiries
Investor Relations
Media Enquiries
Phillip Campbell
Joel Voss
Joel Voss
Chairperson
Company Secretary
Company Secretary
Phillip.Campbell@verbrec.com
Investors@verbrec.com
Investors@verbrec.com
About Verbrec Limited
Verbrec is a leading engineering and project services company that supports customers across Australia, New
Zealand, PNG and beyond. The Company serves the energy, infrastructure, and mining industries through their
technical specialties; asset management, automation and control, pipelines, power, process plant and training, with
capabilities that span across the entire life cycle of an asset. Verbrec is an Australian Securities Exchange listed
company (ASX:VBC).
Verbrec Limited
Share Registry
ASX : VBC
ACN: 127 897 689
Computershare Investor Services Pty Ltd
Ph: +61 3 9415 4000
Verbrec.com
computershare.com
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