Industry News » DE.MEM LIMITED; DEM completes placement with leading institutional investors


DE.MEM LIMITED; DEM completes placement with leading institutional investors

 

logo.jpg

          

ASX RELEASE | De.mem Limited (ASX:DEM)

 

De.mem completes placement with leading institutional investors

 

 Highlights:

  • Received $1.907 million of fresh capital from leading institutional investors and existing shareholders

  • Sydney-based Perennial Value Management becomes second-largest shareholder

 

27 June 2019: Water and wastewater treatment company De.mem (ASX:DEM) (“De.mem” or “the Company”)

is pleased to report that it has received $1.907 million of new investment by a group of high-quality institutional

investors as well as existing shareholders through a placement of new shares.

 

The Company expects to issue 13,621,427 fully paid ordinary shares at $0.14 per share to these investors by 28

June 2019. The issue will utilise the Company’s existing placement capacity available under 7.1 of the ASX Listing

Rules.

 

The cornerstone investor in this placement is Perennial Value Management (“Perennial Value”), which invested

$1.5 million in De.mem and consequently now holds 7.7% of the Company, making it the second-largest

shareholder of the Company after Singapore-based Venture Capital fund New Asia Investments.

 

The Perennial Value Microcap Opportunities Trust received Money Management’s 2019 Fund Manager of the

Year Award in the Australian Small Cap category. The portfolio invests in a range of small listed and unlisted

companies with a market capitalisation below $500 million, which Perennial Value believes have sustainable

operations and whose share prices offer good value.

 

De.mem CEO Andreas Kroell said: “The investment received from such a high-quality group of investors

underlines the attractive investment proposition of De.mem. Each investor is known to be a long-term supporter

of high-quality growth businesses, and we welcome them onto our register.”


Previous      Next
Return to top