About AvexaAvexa Limited is a Melbourne-based biotechnology company with a focus ondiscovery, development and commercialization of small molecules for thetreatment of infectious diseases. Deferred settlement trading of the new shares will end on 5 May 2009. It is anticipated that normal trading of the new shares, the Additional Sharesand the Placement Shares on ASX will commence on 6 May 2009. “The company nowhas a much stronger cash position and balance sheet and is in a good position toprogress our pipeline of product candidates.” The Company anticipates that the new shares, the Additional Shares andsubsequently the Placement Shares will be entered into the holders` securityholdings on 5 May 2009.
“We are pleased with the support received from our shareholders during thisrights issue,” said Julian Chick, PhD, Chief Executive Officer. The Company also intends to undertake placements of up to 30,546,590 ordinaryshares in respect of applications for additional shares that are not fullysatisfied by the allotment of the Additional Shares (Placement Shares). In doingso, the Company expects to raise up to a further $2,138,261 before costs. Theapplications for additional shares exceed the number of new shares that wereunder subscribed under the Rights Issue. Accordingly, the Company intends toallot the under subscribed new shares to eligible shareholders who applied foradditional shares at the Company`s discretion (Additional Shares), raising afurther $6,202,169 before costs.
The total under subscription of theRights Issue was 88,602,419 new shares ($6,202,169). However, the Company also received applications from eligible shareholders underthe Rights Issue for 119,149,009 additional shares ($8,340,430). Atthe close of the Rights Issue the Company received applications for entitlementsand for additional shares totalling $17 million. The Company advises that the offer closed on 27 April 2009, with eligibleshareholders applying for 123,735,088 new shares, or 58% of the Rights Issue,raising a total of $8,661,456 before costs.
MELBOURNE, Australia–(Business Wire)–On 25 March 2009, Avexa (ASX:AVX) announced a pro-rata renounceable rights issueto eligible shareholders on the basis of one (1) new share for every two (2)shares held at the Record Date of 7.00pm AEST on 3 April 2009 (Rights Issue). About Standard & Poor’sStandard & Poor’s, a division of The McGraw-Hill Companies (NYSE:MHP), is theworld’s foremost provider of financial market intelligence, includingindependent credit ratings, indices, risk evaluation, investment research anddata. With approximately 10,000 employees, including wholly owned affiliates,located in 23 countries, Standard & Poor’s is an essential part of the world’sfinancial infrastructure and has played a leading role for more than 140 yearsin providing investors with the independent benchmarks they need to feel moreconfident about their investment and financial decisions. and Canadian Companies listed on a National Exchange (not coveredby S&P`s STARS research) are eligible to obtain this coverage. Standard & Poor`s Factual Stock Reports are produced separately from any otheranalytic activity of Standard & Poor`s.