Completion of Minimum Holdings Acquisition

Market Announcement

30 July 2021

COMPLETION OF MINIMUM HOLDINGS ACQUISITION

Completion of Minimum Holdings Acquisition

Promisia Healthcare Limited (NZX:PHL) (Promisia) has completed the acquisition of shares held by persons with less than a minimum holding.

51,518,410 Promisia shares (Minimum Holdings), representing 0.242% of its share register as at 30 July 2021, have been acquired at the volume weighted average price of a Promisia share on the NZX Market over the preceding 20 business days, being $0.002 per share less reasonable sale expenses. The Minimum Holdings have now been cancelled which has reduced PHL’s share register by 1,063 shareholders from 1,625 to 562 (34.58%).

Total consideration for the acquisition is $95,874.36. From that consideration, a donation of $4,284.96 has been made to KidsCan. Link Market Services will be in contact with shareholders entitled to proceeds for whom Link does not hold bank account details for. The aggregate proceeds for shareholders who do not advise Link of their bank account details within 20 working days will also be donated to KidsCan.

The acquisition has enabled shareholders to exit their small shareholdings cost effectively without having to engage and pay for a broker, whose costs would be disproportionately high relative to the value of their shareholding. The process has also enabled PHL to reduce its administration costs.

Issue of Shares

PHL is also pleased to announce that an additional $50,000 of new shares have been allotted at an issue price of $0.001 per share to wholesale investors.

A further $30,570 of new shares have also been allotted at an issue price of $0.002 per share in consideration for services provided to Promisia.

A capital change notice detailing the acquisition of minimum holdings and share issues accompanies this announcement.

For enquires please contact:
Mr Stephen Underwood
Chairman
Ph 027 499 3387

ENDS

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Announcement PDF