Propell Share Purchase Plan

Propell Holdings Ltd Share Purchase Plan

Share Purchase Plan Details

Offer Price

TBA

*Offer is at the same price as the institutional placement

Share Purchase Plan Details

5 Day VWAP

$0.0112*

Offer Price

$0.01

*This offer represents a 10.81% discount to the volume weighted average price (VWAP) over the 5 trading days before the date the SPP was announced. All applications and monies must be received by 5pm (AEDT) 9 February 2024.

“I am more excited than ever about the near-term outlook for Propell. Thanks to our focus on profitability, our strong loan book performance and the successful $1 million placement in December, we are now months from profitability. This SPP gives all shareholders the opportunity to participate at the same terms as the recent wholesale placement.”

Michael Davidson – CEO

Request Share Purchase Plan Form

What is a 708 investor?

By submitting this form, I agree to the terms of the Reach Markets Financial Services Guide that includes the Privacy Statement. Reach Corporate have been engaged by Propell Holdings Pty Ltd to manage their investor communications including managing this offer and may receive fees based on the uptake of this offer.

Offer Details

Propell Holdings Limited (ASX: PHL) has launched a Share Purchase Plan (SPP) at $0.010/share, representing a discount of approximately 10.81% to PHL’S 5-day VWAP (before the SPP Offer was announced).

Eligible shareholders can apply for a maximum of $30,000 of New Shares.

Use of Funds

Following the recent $1 million placement at the same terms (subject to shareholder approval) the funds raised under the SPP will be used for the following purposes:

  • New product growth;
  • Wholesale funding equity support;
  • For ongoing working capital; and
  • For corporate costs and the costs of the issue.

Should you wish to apply for an amount greater than your allocation, use the same BPAY details to fund the full amount you would like to be allocated.

Refund amounts will be paid either by cheque or by direct credit to the nominated bank account.

Share Purchase Plan Details

5 Day VWAP

$0.0112*

Offer Price

$0.01

This offer represents a 10.81% discount to the volume weighted average price (VWAP) over the 5 trading days before the date the SPP was announced. All applications and monies must be received by 5pm (AEDT) on 9 February 2024.

Company Presentation

Propell (ASX.PHL) targets Australia’s 2.4 million SMEs, who are frustrated with the large banks’ slow difficult lending processes and paperwork. The user-friendly Propell app allows SMEs to get near-instant loan approvals, 100% digital and AI-enabled, making it fast and easy for SMEs to access the capital they need to grow.

In mid 2022, Propell shifted its focus from growth to profitability by tightening its lending criteria and aggressively cost cutting. This is now bearing fruit through a high-margin loan book which has seen no arrears on loans written since June. As a result, Propell is now predicting to be months from profitability.

Watch the latest investor briefing recording here or read the investor presentation here

Shareholder presentation

39 mins | February, 2024

Shareholder Presentation Deck

12 pages | February, 2024

Request Your Personalised Entitlement Offer Form

What is a 708 investor?

By submitting this form, I agree to the terms of the Reach Markets Financial Services Guide that includes the Privacy Statement. Reach Corporate have been engaged by Propell Holdings Pty Ltd to manage their investor communications including managing this offer and may receive fees based on the uptake of this offer.

Reach Corporate have been engaged by Propell Holdings Pty Ltd to manage their investor communications including managing this offer and may receive fees based on the uptake of this offer.

The Share Purchase Plan (SPP) is not an offer of the Company’s securities to any person outside Australia or New Zealand or to any person to whom it is not lawful to make an offer of the Company’s securities. The information in the SPP Booklet is not investment advice or a recommendation to acquire SPP Shares and has been prepared without taking into account your investment objectives, financial circumstances or particular needs as an investor (including financial and taxation considerations). It is recommended that you read the entire SPP Booklet and seek professional investment advice from your financial adviser or other professional adviser before deciding whether to apply for SPP Shares.