ZYB Details
 
Non-renounceable rights issue offer: Zyber Holdings Limited (ASX: ZYB) had lodged a prospectus for a pro-rata non-renounceable rights issue offer (Prospectus) with ASIC and ASX on October 10, 2016. Under the offer, ZYB is undertaking a 1:2 pro rata non-renounceable rights issue of about 213,603,605 fully paid ordinary shares (together with one free attaching option for every two shares subscribed for and issued exercisable at $0.012 on or before 31 October 2019). This is to raise approximately $1,068,018. The issue price of every new share under the offer is $0.005. The company also announced that the Prospectus (dated 10 October 2016) and Entitlement & Acceptance form were dispatched to Eligible Shareholders appropriately. It is important to note that to exercise the options, requisite information/ documents are to be provided to the company as per the manner disclosed in the prospectus. Further, ZYB had indicated that the requisite information should have been received by the Company by no later than October 13, 2016 in case the new shares had to be allotted prior to the record date. Allotment of new shares prior to the record date would not be assured if received after said date.
 

Use of proceeds of the offer (Source: Company Reports)
 
Completion of placement: ZYB lately completed the placement of fully paid ordinary shares at an issue price of $0.0065 per share to clients and contacts of Patersons Securities Ltd to raise $1,235,000.
 
Stock Performance: The stock has plunged 67.35% in the last six months (as at October 24, 2016) and rose 20% alone on October 24, 2016. In the quarterly report of July 2016, the group had highlighted about signing a multi-company Trial Agreement with REDtrac, Wegis and Young and Water Associates who are in the asset tracking and groundwater O&M space. Further, an additional trial agreement with Cynosure Private Equity, a Hong Kong based private equity firm was signed. ZYB recently provided the update that the group will hold its Annual General Meeting (AGM) setting out additional resolutions on November 25, 2016. Looking at the prospects, eligible shareholders may consider the offer in view of the price scenario while we give a “Speculative buy” recommendation on the stock at the current price of $ 0.006

 
ZYB Daily Chart (Source: Thomson Reuters)

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