Promisia raises $4.725 million under capital raise

PROMISIA RAISES $4.725 MILLION UNDER CAPITAL RAISE

Promisia Healthcare Limited (Promisia) (NZX:PHL) is pleased to advise it has successfully completed its share purchase plan (SPP) and placement offer (the Offer), raising $4.725 million.

Proceeds raised under this Offer will be invested into funding the Cromwell acquisitions which is scheduled to complete in approximately two weeks' time.

Promisia has today allotted shares and warrants for $4 million under the Offer. The remaining $725,000 to be issued under the Offer is conditional on Promisia being able to undertake such issue under the NZX listing rules (through placement capacity or prior shareholder approval).

As noted in the announcement of 30 July 2024, Promisia will seek approval to vary the warrants at the 2024 Annual Shareholders Meeting (date to be confirmed in due course). Specifically, PHL will seek:

• shareholder and warrant holder approval to reduce the exercise price of the warrants issued under the Offer from 0.2c to 0.1c; and

• shareholder approval to issue additional warrants to subscribers under the Offer so that every subscriber under the Offer receives three (3) warrants for every one (1) share subscribed for. At present under the Offer one (1) warrant is issued for every one (1) share subscribed for.

Allotment

Settlement and allotment of all new ordinary shares and warrants issued under the Offer has now occurred, with trading of those shares and warrants expected to commence on the same day. Please see attached capital change notices detailing the issue of ordinary shares and warrants.

The new shares (including the shares issued on the exercise of the warrants) will rank equally in all respects with Promisia’s existing ordinary shares. Holding statements for the new shares will be despatched by 6 August 2024.

ENDS

Authority for this announcement: Rhonda Sherriff, Chair, Promisia Healthcare Limited

For more information, please contact: Francisco Rodriguez Ferrere, General Manager – Finance, Promisia Healthcare Limited
Phone: +64 21 245 1801 or email: [email protected]

About Promisia Healthcare

Promisia is a New Zealand based aged care and retirement living provider, with a focus on delivering quality personalised care. Our aim is to be the aged care provider of choice in our communities. Our facilities are located in well-established and well serviced towns and metropolitan areas. Our goal is to profitably grow our business in a sustainable manner, delivering quality care to our residents, peace of mind to their families and whanau, and excellent value to our villages, community and shareholders. Promisia is listed on the NZX (NZX: PHL). http://www.promisia.co.nz.

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Announcement PDF