TZ Rights Issue
This Rights Issue Is Now Closed
Rights Issue Details
30 Day VWAP
$0.16
Offer Price
$0.12
This offer represents a 25% discount to the volume weighted average price (VWAP) over the 30 trading days before the date the rights issue was announced. All applications and monies must be received by 7 June 2021.
TZ Limited is now in a good position to address the final piece of our turnaround plan – and that is to restructure the balance sheet and address the level of debt that we have. I see TZ Limited with tremendous potential, we have truly world-class technology and a large global installed client base of the world’s best-known brands. We have solutions that can be deployed into new, exciting and high growth market segments, including click & collect, access control and last mile solutions. And we now have the team, the sales model and the wherewithal to capitalise and deliver on the huge opportunities in front of TZ Limited.
Scott Beeton, CEO
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Offer Details
TZ Limited (ASX: TZL) has launched a 1-for-2 non-renounceable rights issue (The Offer) priced at $0.12/share representing a 25% discount on the volume-weighted average price (VWAP) over the 30 trading days before the date the rights issue was announced. TZ’s largest Shareholder and debt provider, First Samuel have confirmed they will participate in the rights issue, and after the rights issue have agreed to convert a minimum $2 million of debt to equity.
Use of Funds
The funds raised under the Rights Issue will be used for the following purposes:
- Repay part of the debt owed to First Samuel Limited
- To pay the costs of the Rights Issue
- For general working capital purposes
Company Presentation
Investor Presentation
Speak to an Adviser
By submitting this form, I agree to the terms of the Reach Markets Financial Services Guide that includes the Privacy Statement. Reach Markets are the advisers assisting with the management of this offer and may receive fees depending on whether an offer is taken up by investors.