Placement & Non-Renounceable Rights Issue
Sydney, Aug 16, 2017 AEST (ABN Newswire) - The Directors of Chapmans Limited (
ASX:CHP) (Chapmans, the Company) are pleased to provide the following update on the Company's capital raising activities.
Chapmans has completed a placement of shares to raise $2 million via the issue of 400,000,000 fully paid ordinary shares (Shares) at 0.5 cents ($0.005) (Placement). This Placement was approved by shareholders at the general meeting held 28 July 2017. The Company will issue the Placement Shares as soon as possible.
Chapmans also advises that it will be making a non-renounceable offer of Shares on the basis of one Share for every two Shares held at the record date (Offer). The timetable for the Offer will be announced shortly, including the record date. The issue price for the Offer will be consistent with the Placement at 0.5 cents ($0.005) per Share.
The funds raised under the Placement and Offer will be allocated towards increasing the Company's investment interest in its existing investments, and general working capital.
About Chapmans Limited
Chapmans Limited (ASX:CHP) is an ASX-listed diversified investment company engaged in special situation investments across a diverse range of industries, with a focus and expertise in the mobile and advanced industrial technology sectors. The Company seeks to be an active strategic investor in high growth areas of the market and to identify and work with emerging high growth companies. Chapmans' investment philosophy and approach are based on a unique mix of high conviction and special situation features, characterised by advisory and equity investments structured around specific events and assets for both public and large private corporates.
The Company made its first strategic investment into blockchain in 2017 and established the Blockchain Industry Advisory Board to identify and assess compelling blockchain investment opportunities. Chapmans' investment in blockchain technology aligns with its growth plans and commitment to investing in early stage technologies with reach into key international markets.
To learn more please visit: https://www.chapmansltd.com
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