Kabuni Limited Completes Placement

PERTH, Western Australia, Oct. 21, 2016 /CNW/ - Kabuni Ltd (ASX: KBU) ("Kabuni," or the "Company") is pleased to confirm that, further to the ASX release dated 17 October 2016, the Company has allotted 29,900,000 fully paid ordinary shares to raise a total of $807,300 (before costs) (the "Placement").

The 14,950,000 free attaching options issued as part of this placement, exercisable at $0.05 on or before 30 June 2019 (the "Placement Options") are subject to shareholder approval. The Placement Options will be issued following shareholder approval being obtained at the Company's upcoming Annual General Meeting to be held on 18 November 2016.

Additional disclosure under ASX Listing Rule 3.10.5A

The Placement shares were issued pursuant to the Company's 15% placement capacity under ASX Listing Rule 7.1 and the Company's additional 10% placement capacity under ASX Listing Rule 7.1A (refer to the Appendix 3B dated 17 October 2016). As such, the Company provides the below information under ASX Listing Rules 3.10.SA and 7.1A.4(b) in respect of the shares issued under ASX Listing Rule 7.1A.

1. The dilutive effect of the Placement on existing shareholders is as follows:


Shares

%

Number of shares on issue prior to Placement

130,309,175

81

Dilution as a result of issue under ASX LR7.1A

13,015,918

8

Dilution as a result of issue under ASX LR7.1

16,884,082

11

Number of shares on issue following Placement

160,209,175

100

 

2. The shares issued under ASX Listing Rule 7.1A were issued to sophisticated and professional investors via the Placement, as it was considered by the Company as the most efficient and expedient mechanism to raise capital to fund the costs of operations, sales, marketing and the ongoing development of Kabuni's business.

3. There were no underwriting arrangements entered into as a part of the Placement.

4. The fee payable by the Company to the Joint Lead Managers, Alto Capital and CPS Capital Group Pty Ltd, in connection with the Placement comprises an aggregate cash fee of 6% of the funds raised pursuant to the Placement.

The Cleansing Notice in respect of the Placement shares issued follows.

21 October 2016

Kabuni Share Placement -
Notice Under Section 708A of the Corporations Act

PERTH, WESTERN AUSTRALIA. Kabuni Ltd (ASX: KBU) ("Kabuni," or the "Company") hereby provides notice to the ASX for the purpose of section 708A(5)(e) of the Corporations Act 2001 (Cth) that it has issued 29,900,000 fully paid ordinary shares in the Company (Shares) without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth).

The Company states that as at the date of this notice it:

  • has complied with the provisions of Chapter 2M of the Corporations Act 2001 (Cth) as they apply to the Company;
  • has complied with section 674 of the Corporations Act 2001 (Cth); and
  • is not aware of any excluded information within the meaning of sections 708A(7) and 708A(8) of the Corporations Act (Cth).

An Appendix 3B relating to this issue is dated 17 October 2016.

Yours faithfully

(signed)

Aaron Bertolatti
Company Secretary

ABOUT KABUNI  

Kabuni is a North American-based SaaS and e-commerce platform in the home design space that enables independent designers and home design professionals to grow their business through an omni-channel retail experience. Kabuni's platform enables designers worldwide to collaborate with clients anywhere in the US and Canada and earn income from the sale of home décor products and furnishings from Kabuni's catalogue through curated Inspiration Boards. Kabuni leverages proceeds from the platform to benefit local charitable organizations dedicated to combating homelessness. Kabuni believes in Better Homes for Everyone. For more information, please visit: http://www.kabuni.com/

Kabuni is owned by Kabuni Ltd (ASX: KBU), an Australian-based company publicly traded on the Australian Securities Exchange (ASX). The company's strategic focus is to build a global business in the home space by developing an ecosystem of innovative technologies and solutions to enhance the industry for professionals and consumers alike. For more information, please visit: http://investor.kabuni.com/

SOURCE Kabuni Ltd

For further information: Kabuni Ltd., Neil Patel, Chief Executive Officer, p: + 1 778-288-1974

RELATED LINKS
www.kabuni.com

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Kabuni Ltd

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