12 May 2015
VMob Group Limited Share Placement (NZAX:VML)
On 5 May 2015, VMob Group Limited (VMob) announced that it was to undertake a placement to raise up to NZ$3.0 million through the issuance of 7,500,000 ordinary shares at an issue price of NZ$0.40 per ordinary share.
VMob is pleased to advise that after the close of business on 11 May 2015 it has received commitments to subscribe for 7,500,000 ordinary shares at NZ$0.40 per share, raising approximately NZ$3.0 million. (Note: Australian investors will settle in Australian dollars at an exchange rate that was set on 8 May and so final funds received may vary depending on the exchange rate at the settlement date)
Completion of the share placement is subject to shareholder approval at a Special Meeting of Shareholders on 22 May 2015 at the Hilton Hotel, Princes Wharf, Auckland. If approved by shareholders, completion will occur on 27 May 2015 with allotment of shares taking place on 28 May 2015.
The capital raised will be applied towards expanding VMob’s sales and marketing footprint, enabling current and planned deployments and providing VMob with further working capital.
Bell Potter and CMB Capital facilitated the raising on behalf of VMob, securing funds from wholesale investors in New Zealand and sophisticated investors in Australia. Tim Cook, a director of VMob, also participated in the placement increasing his holding in the Company by 250,000 ordinary shares to 688,505 ordinary shares.
A further announcement will be made to the market when the share placement is approved by shareholders and completed.
VMob also re-confirms its intention to offer its New Zealand shareholders the opportunity to participate in a Share Purchase Plan (SPP), which will be launched later this month. Pricing for the SPP is expected to be the same as the pricing offered to those parties participating in the private placement.
For more information please contact:
Steve Allan, CFO
Mobile: +64 27 480 9991
VMob is an end-to-end mobile personalisation platform that lets retailers and other customer-facing brands create highly personalised marketing campaigns to reach customers at exactly the right time and place – resulting in much higher conversion rates.
The VMob platform integrates with the brand’s own smartphone app to continuously collect and store a range of real-time data (including location, movement speed, local weather and nearby events), combining it with information on past transactions through its IoT platform to deliver a level of personalised content not possible with other media.
Offers, campaigns and content personalised with this data are delivered within the smartphone app, and to other channels via API connections.
VMob is based in Auckland, New Zealand and is listed on the NZX Alternative Market (NZAX: VML).
VMob has already achieved success in worldwide markets with strong partnerships and clients including McDonald’s, 7-Eleven, Exxon, Anheuser Busch, Spark New Zealand, Telkom Indonesia, Loyalty New Zealand, and Yellow Pages.
Visit www.vmoblive.com for further information