Share Purchase Plan
CORPACT
Thu, Sep 12 2024 08:56 am
Being AI Limited (NZX: BAI) has announced its intention to undertake a share purchase plan to its existing shareholders with an address in New Zealand (SPP). The SPP is not underwritten.
The purpose of the SPP is to raise funds (after issue costs) for deployment across the following initiatives:
• Acquiring complimentary businesses within the IT Infrastructure & Services vertical.
• Investment in the development of new technology for deployment across BAI’s various business divisions.
• The development and launch of new Charter school initiatives.
The SPP will be open to existing shareholders recorded in the Company’s share register as having a New Zealand address at 5.00pm on 11 September 2024 (Eligible Shareholders).
The SPP will result in up to 9,340,000 new shares issued in Being AI (New Shares). Eligible Shareholders will be able to apply for up to $50,000 of new shares. The board of directors of Being AI may, in its full discretion, accept any oversubscriptions which will be scaled according to the Record Date.
The issue price for the SPP is NZ$0.60 per share.
Contact:
Sean Joyce
Executive Chairman
Being AI Limited
Contact: +64 21 865 704
Announcement PDF
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