Non-Renounceable Rights Issue - December 2009
Virax announced on 23 November 2009 of a 1 for 5 non-renounceable pro rata entitlement issue at 5 cents per share to raise approximately $1.3 million, before costs, if fully subscribed.
The Offer is to provide funds with the objective of enabling Virax to reach the endpoint of the trials of VIR201 in South Africa, realise the inherent value under the Transgene Sub-licence through prospective milestones and royalty payments as they advance their programs that utilise the Co-X-GeneTM technology; and continue the timely completion of current discussions with parties interested in participating in the expansion of the business on a value accretive basis for shareholders.
Key indicative* dates of the offer are:
| Announcement of the Offer |
Monday, 23 November 2009 |
| Record Date |
7:00pm (AEDT), Tuesday 1 December 2009 |
| Despatch of Offer Document and Entitlement and Acceptance forms |
Thursday, 3 December 2009 |
| Closing Date |
5:00pm (AEDT), Thursday 21 January 2010 |
| Allotment of Shares |
Friday, 29 January 2010 |
| Trading of New Shares expected to commence on ASX |
Monday, 1 February 2010 |
| Holding statements expected to be despatched to shareholders |
Tuesday, 2 February 2010 |
*These dates are indicative only and are subject to change. The Company reserves the right to amend this indicative timetable without notice. In particular, the Company reserves the right, subject to the Corporations Act and the Listing Rules to close the Offer early, to extend the Closing Date or to withdraw the Offer without prior notice. Any extension of the Closing Date will have a consequential effect on the date for the allotment of New Shares.
NOTE: Virax announced on 9 December 2009 the extension of the Closing Date of the Offer from 5:00pm (AEDT) Thursday 17 December 2009 to 5:00pm (AEDT) Thursday 21 January 2010.
To apply for New Shares under the Offer, you must complete the Entitlement and Acceptance Form that was mailed to eligible shareholders accompanying the Offer Document. The closing date for acceptance and payment is 17 December 2009. If you have any questions concerning the Offer document or the Entitlement and Acceptance Form, please contact Computershare on 1300 151 632 (within Australia) or +61 3 9938 4344 (outside Australia).
The following are links associated with the Offer:
ASX Announcement - Extension of Offer - 9 December 2009
Offer Document Mailing - 3 December 2009
Eligible and Ineligible Shareholder Letter - 24 November 2009
ASX Announcement - 23 November 2009