Avenira Limited

Avenira Completes Placement

Avenira Limited (ASX: AEV) (“Avenira” or “the Company”) advises that it has completed a placement of approximately 137 million new fully paid ordinary shares at an issue price of A$0.008 per share, raising approximately A$1 million (before costs) (“Placement”).


Placement Details

137,125,000 fully paid ordinary shares will be issued under the Company’s existing Listing Rule 7.1A placement capacity at an issue price of A$0.008 per share to raise approximately A$1million, before costs.

Proceeds from the Placement will be used to replace working capital that was utilised to repay the outstanding secured convertible loan of A$3.7 million (including capitalised interest) from Au Xingao Investment Pty Limited that matured on 8 March 2024. Avenira is currently in discussions with several parties in relation to new note funding.

Commenting on the Placement, Avenira Chairman and Chief Executive Officer, Brett Clark stated:

“We are pleased that we have completed this small placement, with funds to be used for our ongoing working capital requirements. We are looking forward to providing shareholders with further progress on our projects in the coming weeks.”

Petra Capital Pty Ltd acted as Sole Lead Manager and Bookrunner to the Placement.

An indicative timetable for the Placement is set out below. The timetable remains subject to change at the Company’s discretion, subject to compliance with applicable laws and listing rules.

Indicative Timetable

This timetable is indicative only and the Company may, at its discretion, vary any of the above dates, subject to the ASX Listing Rules and the Corporations Act 2001 (Cth) and other applicable laws.

This announcement was authorised for release by the Chairman.


Click here for the full ASX Release

This article includes content from Avenira Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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