Results of the SPP
ASX Announcement
Tuesday 31st August 2021
Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) advises that further to its announcement on 26 August 2021 in relation to the Share Purchase Plan (SPP), the Company provides shareholders with the results of the SPP and some further information on the scale-back methodology and expected processing date for refunds.
Almost 20% of the Company’s shareholder base applied to participate in the SPP, with in excess of AUD$10.0 million received in valid applications versus the SPP target raising of A$5.0 million.
The SPP terms and conditions provided the Company with the discretion to scale back the SPP in the manner it determined. As advised in the offer document dated 13 August the scale-back methodology will be conducted at the directors’ discretion.
A pro-rata basis has been applied, based on amounts applied for under the SPP, rounded to reflect the 156,250,000 Shares to be issued under the SPP offer. Excess funds as a result of the scale-back will be returned to applicants without interest in accordance with the SPP offer document and are expected to be processed by the Company’s registry on or around 2 September 2021.
As a result of the scale-back, Shareholders who applied to participate in the SPP will receive the following application amount they applied for:
| Application parcels | % of parcel as valid application after scale back | Shares to be issued | |
| % | $ | ||
| $2,000 | 100 | $2,000.00 | 62,500 |
| $5,000 | 60 | $3,000.00 | 93,750 |
| $10,000 | 50 | $5,000.00 | 156,250 |
| $15,000 | ¹ 43.03 | $6,454.55 | ¹ 201,075 |
¹ Approximate, subject to final calculation and rounding.
The updated timetable for the SPP is as follows:
| Event | Indicative Date |
| SPP offer closed | 26 August 2021 |
| SPP results announced to the ASX | 31 August 2021 |
| Issue of Shares under SPP and despatch of holding statement | 2 September 2021 |
| Quotation of SPP Shares on ASX commences | 3 September 2021 |
Refunds Refunds for application monies as a result of the scale back or late payments will be processed on, Thursday, 2 September 2021 and refund cheques will be dispatched once the NSW Government Covid-19 restrictions are lifted. To enable shareholders to receive their refund by Electronic Funds Transfer (EFT), shareholders are strongly encouraged to update their bank details on the Automic Investor Portal at https://investor.automic.com.au/#/home as soon as practicable.
For any remaining refunds that have not been processed by EFT, cheques will be mailed in the post to the relevant shareholders once the NSW Government Covid-19 restrictions are lifted.
How do I create an account with Automic?
To create an account with Automic, please go to the Automic Investor Portal at (https://investor.automic.com.au/#/home) click on ‘register’ and follow the steps. Shareholders will require their holder number (Securityholder Reference Number (SRN) or Holder Identification Number (HIN)) to create an account with Automic.
I have an account with Automic, what are the next steps?
For shareholders who have an existing account with Automic (Note: with a username and password) are advised to take the following steps to update their bank details: Log in to the Automic Investor Portal https://investor.automic.com.au/#/home using your username and password. Select ‘Settings’, followed by ‘Portfolio profile’ and follow the prompts to update details.
For any queries shareholders should contact Automic at hello@automic.com.au or on 1300 288 664 (within Australia) or +61 2 9698 5414 (outside Australia).
The Board would like to thank shareholders for their continued support of the Company.
This announcement is authorised by the Board of Directors for release to ASX.
For more information please contact:
Christian Easterday
Managing Director
Tel: +618 9315 9009
Email: christian@hotchili.net.au
or visit Hot Chili’s website at www.hotchili.net.au
To read the full announcement click on the below link.