Key points
- Entitlement issue of 1 new share for every 5 shares held at $0.003 per share
- 1 free new option for every 1 new share issued
- Aims to raise up to $513,692
Full summary
Skin Elements Ltd has announced a pro-rata non-renounceable entitlement issue of 1 new share for every 5 shares held at $0.003 per share, together with 1 free new option for every 1 new share issued, to raise up to $513,692. The offer is open to eligible shareholders with a registered address in Australia or New Zealand as at the record date of 2 January 2025. The new shares will rank equally with existing shares, and the new options will be exercisable at $0.006 each on or before 31 December 2027. The proceeds from the offer will be used to fund the continued commercialization and development of the company's proprietary SE Formula technology, as well as for general working capital purposes. The offer is not underwritten, and the company reserves the right to scale back applications or raise a higher amount. Eligible shareholders are encouraged to carefully consider the risks associated with the offer, which are detailed in the prospectus.