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SMN - STRUCTURAL MONITORING SYSTEMS PLC


mminion

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Hi Nipper,

Yep, a bit of a roller coaster recently.

I’m still under water- it’s all about timing ?

Having said that, I’m confident that things are starting to come together & believe that we’ve turned a corner.

Lots of volume recently & possibly starting to appear on more radars out there.

 

Cheers

Dr_Dazmo

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Structural Monitoring Systems is seeking to raise $22.6 million in an equity raising via Evolution Capital, split into a $10 million placement and $12.6 million rights issue, according to terms sent to potential investors.

 

New shares were on offer at 62¢ each, which was a 36 per cent discount to the last close.

The placement would see 16.1 million new shares issued, while the rights issue was a one for six non renounceable deal for another 20.3 million shares.

 

Funds raised would be used for working capital and strategic debt optimisation according to terms sent to potential investors, as well as future acquisitions & capex requirements.

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posted elsewhere about SMN: (hat-tip access)

Quote
Once again delayed by FAA requesting minor adjustments in paperwork of the procedure manual. Has been an excellent opportunity for other shareholders and myself to top up our holdings while waiting. Well passed the stage where the process is acceptable to FAA. Just awaiting the announcement.

 

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On 10/6/2021 at 8:08 PM, nipper said:

Structural Monitoring Systems is seeking to raise $22.6 million in an equity raising via Evolution Capital, split into a $10 million placement and $12.6 million rights issue, according to terms sent to potential investors.

New shares were on offer at 62¢ each, which was a 36 per cent discount.

and SMN going to the market again? In a Trading Halt, pending an update on the proposed capital raising.

The SP has bounced around, has run from 40c to 90c then the cap raise, then back to 60c returned to $1, dropped down to 55c and was 72c last week.

... . .  .  . ...... .. . . .

because, interestingly, in October, this was pulled. postponed till January. I doubt 73c will be attained, this time around

Quote

 Company intend[ed] to conduct a capital raising of $10 million predominantly by way of a NonRenounceable Rights Issue to existing shareholders at $0.73 per share (being a 25% discount to the last closing price of $0.97) subject to requisite shareholder approvals and prevailing market conditions.

 

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