In accordance with the terms of the underwriting arrangement with Leadenhall Australia Pty Ltd (Underwriter) (details of which are contained in the Prospectus dated 19 June 2017), the Company has given notification of the shortfall to the Underwriter and the Underwriter is obliged to subscribe for the shortfall of 419,391,619 Options (Shortfall). The acceptance of the applications for the Bonus Option Offer, together with the Shortfall, will constitute total funds raised of approximately $570,000.00.
The Company will proceed to issue and allot the Bonus Options (excluding under the Shortfall) on 18 July 2017 and the Shortfall Options on 25 July 2017. It is anticipated that trading will commence for the Bonus Options (excluding under the Shortfall) on 24 July 2017 and the Shortfall Options on 28 July 2017.
The Company wishes to thank its Shareholders for their ongoing support.
About XPED Ltd
XPED Ltd (ASX:XPE) is an Australian Internet of Things ("IoT") technology business. Xped has developed revolutionary and patent-protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. It's as simple as two people shaking hands. By enabling the Internet of Things, Xped's ADRC platform will bring benefit to Manufacturers, Retailers, Service Providers, and Consumers.