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BRIEF-Domacom Australia Announces Recapitalisation Proposal

Published 04/09/2020, 12:00 pm
Updated 04/09/2020, 12:06 pm
© Reuters.
DCL
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Sept 4 (Reuters) - Domacom Australia Ltd DCL.AX :

* $3.6M PLACEMENT AS PART OF $16.6M RECAPITALISATION PROPOSAL-

* ENTERED IMPLEMENTATION AGREEMENT ON PROPOSAL FOR A DOMACOM SUB-FUND TO ACQUIRE AUSTAGRI GROUP

* IF COMPLETED, AAGL TRANSACTION TO INCREASE CO'S FUM BY AT LEAST $300M

* AAGL DEAL EXPECTED TO INCREASE CO'S FUM BY AT LEAST $300M AND DELIVER AT LEAST $13 MILLION IN REVENUE OVER 5-YEAR TERM OF SUB-FUND

* ENTERED PLACEMENT AGREEMENT WITH FQC FINTECH 2 TO ISSUE 33.3 MILLION DOMACOM ORDINARY SHARES AT $0.06 PER SHARE

* AS CONSIDERATION FOR ACQUISITION, AAGL SHAREHOLDERS TO RECEIVE 1 UNIT IN DOMACOM SUB-FUND PER 1 AAGL SHARE HELD

* UNDER PROPOSAL, CO TO ALSO SEEK SHAREHOLDER APPROVAL TO ISSUE 100 MILLION DOMACOM SHARES TO AAGL SHAREHOLDERS

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