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.
Peter Dykes Executive Chairman Chapmans Limited E: email@example.com T: +61-2-9300-3630 Anthony Dunlop Executive Director Chapmans Limited E: firstname.lastname@example.org T: +61-2-9300-3630
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