My Rewards International to Raise Up to Around AU$4.1 million Via Entitlement Offer

MT Newswires Live09-12

My Rewards International (ASX:MRI) plans to raise up to around AU$4.1 million, before costs, through a pro rata non-renounceable entitlement offer, according to a Friday Australian bourse filing.

It will offer one fully-paid ordinary share for every two shares held by eligible shareholders on Sept. 17 at an issue price of AU$0.009 per share. Up to around 457,475,178 shares will be issued pursuant to the offer, and it will close on Oct. 1.

The entitlement offer is underwritten up to an amount of AU$3.4 million. The proceeds will be used for debt reduction, among other things.

Eligible shareholders will consist of shareholders with a registered address in Australia, New Zealand, the UAE, Thailand, Bermuda, Indonesia, or Hong Kong.

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