Aspermont Completes $3m Placement
03 March 2021
- Successful completion of 100 million share placement at 3 cents
- Placement with one new, German, institutional investor
- Placement price agreed at a 329% premium to last capital raise.
- New funds will be used to develop and expand existing organic XaaS and Data models
- Aspermont cash position is now over $7 million and growing
Aspermont Limited (the Company or Aspermont) is pleased to announce that it has successfully raised gross proceeds of $3.0 million through a placement of 100 million new ordinary shares in the Company.
The Placement was completed at a price of 3.0 cents per share which represents a 329% premium to the rights issue price in May 2020. This placement enabled Aspermont to introduce a new institutional investor to support the business strategy.
Alex Kent, Managing Director of Aspermont, said:
“We are delighted to welcome a well- regarded German institutional investor as a new shareholder. Our Frankfurt listing (Ticker: OOW) has brought us to the attention of German and European investors who have quickly identified our value proposition, and this has positively impacted both our share price and traded volumes.
Our German listings, particularly the Tradegate exchange, have brought greater liquidity, and are helping us to achieve a more reasonable market valuation. There is still some way to go but this placement is an important step in the development of a new European value investor base.
The proceeds from the placement brings our cash balance to over $7M which will be deployed to finance the organic development of our existing key XaaS and Data commercial models and for further development of our operational capacities.”
The Placement shares have been issued on the same terms as, and rank equally in all respects with, the existing fully paid ordinary shares in the Company. The Company will make an application to the ASX for listing of these shares. Shares will be issued under the Company’s placement capacity pursuant to ASX Listing Rule 7.1.
Wealth Express Holdings Group Limited acted as Lead Manager to the Placement.
This announcement was authorised by the board of directors.
For further information please contact:
Aspermont Limited
Alex Kent, Managing Director +44 207 216 6060
Tim Edwards, Company Secretary +61 8 6263 9100
About Aspermont
Aspermont is the leading media services provider to the global resource industries. Aspermont has built a commercial XaaS model for B2B media which distributes high value content to a growing global audience. This versatile model can be scaled to serve new business sectors in new countries and languages. Aspermont’s increasing size of (paid) audiences has opened a data monetization opportunity that the company is now developing.
Aspermont is listed on the ASX and on the Frankfurt Stock Exchange. It is also quoted on Tradegate and other regional German exchanges. The company has offices in UK, Australia, Brazil, USA, Canada, Singapore and the Philippines.
For more information please see: www.aspermont.com
