AFT Pharmaceuticals Limited (NZX:AFT/ASX:AFP) (AFT) is pleased to announce the opening of its NZ$2 million non-underwritten share purchase plan (SPP). The SPP is part of AFT Pharmaceuticals’ capital raising announced on 10 June 2020, whereby AFT also undertook a fully underwritten NZ$10 million placement of new shares to select investors in both local and offshore markets and certain major shareholders sold down NZ$63.8 million of existing shares (together, the Placement). AFT announced the successful completion of the Placement on 11 June 2020, which was strongly supported and fully subscribed at a price of NZ$3.75 per share.
The SPP is open to AFT shareholders who were recorded as having a registered address in New Zealand or Australia on AFT’s register as at 7.00pm (NZ time) / 5.00pm (Sydney time) on 9 June 2020 (Eligible Shareholders). Eligible Shareholders will receive their application forms to apply for up to a maximum of NZ$50,000 / A$47,000 of new shares per shareholder. The price of these shares will be NZ$3.75, being the same as the Placement share price. If scaling of the SPP is required, it will be done having regard to existing shareholder holdings at the record date (being 9 June 2020), and otherwise at AFT Pharmaceuticals’ discretion.
The SPP is subject to the terms and conditions included in the SPP offer document being sent to Eligible Shareholders today. Eligible Shareholders are encouraged to read the SPP offer document carefully, and if in any doubt about whether or not to apply for shares under the SPP, to consult with a financial or other professional adviser. The SPP offer document is accompanied by a hard copy Application Form, however we strongly encourage Eligible Shareholders to apply online at AFT@computershare.co.nz.
The new shares will rank equally in all respects with AFT’s existing ordinary shares on allotment.
Key dates relating to the SPP are set out in the Appendix to this announcement. A copy of the SPP offer document accompanies this announcement.
Shareholders with questions in relation to how to participate in the SPP may contact AFT’s registrar Computershare Investor Services Limited, at any time from 8:30am to 5:00pm (NZST) Monday to Friday prior to the Closing Date at +64 800 650 034. We strongly encourage shareholders to seek financial, investment and other professional advice from a qualified professional adviser.
- Released for and on behalf of AFT Pharmaceuticals Limited by Chief Financial Officer Malcolm Tubby
For more information:
Dr Hartley Atkinson
Tel: +64 9 488 0232
+64 21 645 643
Appendix Key Dates for the SPP1
Record Date for SPP – 7pm NZT, Tuesday 9th June 2020
SPP offer opens and SPP offer booklet is dispatched – Monday 15th June 2020
SPP off closes – Friday 26th June 2020
SPP results announcement – Wednesday 1st June 2020
Allotment of share – Thursday 2nd July 2020
Commencement of trading of the new shares on NZX – Thursday 2nd July 2020
Commencement of trading of the new shares on ASX – Friday 3rd July 2020
1 The timetable presented is indicative only and subject to changes without notice (subject to applicable laws and the NZX Listing Rules and ASX Listing Rules). All dates and times are New Zealand times (unless stated otherwise).
Issue of ordinary shares
This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of ordinary shares in AFT Pharmaceuticals Limited.
Section 1: Issuer information
Name of issuer
AFT Pharmaceuticals Limited
NZX ticker code
Class of financial product
ISIN (If unknown, check on NZX website)
Section 2: Capital change details
Nominal value (if any)
Issue price per security
Nature of the payment
Amount paid up (if not in full)
Percentage of total class of Financial Products issued (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence)
For an issue of Convertible Financial Products or Options, the principal terms of Conversion
Reason for issue and specific authority for issue
Allotment of 2,666,667 ordinary shares under a placement conducted by AFT Pharmaceuticals Limited
Total number of Financial Products of the Class after the issue (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue.
Specific authority for the issue, including a reference to the rule pursuant to which the issue is made
Directors’ resolution, Listing Rule 4.5.1
Terms or details of the issue (for example: restrictions, escrow arrangements)
The ordinary shares issued rank pari passu with the existing ordinary shares
Date of issue
Section 3: Authority for this announcement and contact person
Name of person authorised to make this
Contact person for this announcement
Contact phone number
+64 9 488 0232
Contact email address
Date of release through MAP
About AFT Pharmaceuticals
AFT is a growing multinational pharmaceutical company that develops, markets and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over the counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary and in-licensed products, and includes patented, branded and generic drugs. Our business model is to develop and in-license products for sale by our own dedicated sales teams in our home markets of Australia and New Zealand and in certain Southeast Asian markets, and to out-license our products to local licensees and distributors to the rest of the world.
Not for release or distribution in the United States
This announcement has been prepared for publication in New Zealand and Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer of securities for sale in the United States or any other jurisdiction. Any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933 or an exemption from registration.