By Laura Lutz
Des Moines, Oct. 5 - Axiom Properties Ltd. settled a private placement for A$13,083,900.
The company sold 43.613 million shares at A$0.30 each
Proceeds will be used for new development opportunities resulting from the company's recent strategic alliance with major shareholder Pivot Group.
Charter Hall Group, which also entered into a strategic alliance with Pivot, was the lead subscriber in the placement.
Paradice Investment Management invested for about 15 million shares. Southern Cross and Bell Potter Securities subscribed for the rest of the shares.
Southern Cross Equities was the agent for the deal.
Pending shareholder approval, the company plans to close a further placement of 1 million of the shares with director Michael Blakiston. He did not participate in the original placement because of the need to seek shareholder approval.
Axiom is a property management company based in Perth, Western Australia.
| Issuer: | Axiom Properties Ltd.
|
| Issue: | Stock
|
| Amount: | A$13,083,900
|
| Shares: | 43.613 million
|
| Price: | A$0.30
|
| Warrants: | No
|
| Investors: | Charter Hall Group, Paradice Investment Management, Southern Cross and Bell Potter Securities
|
| Agent: | Southern Cross Equities
|
| Settlement date: | Oct. 5
|
| Stock symbol: | Australia: AXI
|
| Stock price: | A$0.32
|
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