The Board of Imdex Ltd has announced today a placement of approximately 72.72m new ordinary shares at an issue price of 55cps to qualified institutional and sophisticated investors. The placement to raise $40m will be done in two tranches – with Tranche 1 to be issued on 12th September, and Tranche 2 on the 17th October 2016. A share purchase plane (SPP) for $5m will also take place.

The Placement was oversubscribed, and funds will be used to reduce debt, and strengthen the balance sheet.

Euroz Securities Ltd has acted as a sole lead manager and book runner to the placement. Hartleys Ltd is acting as Broker to the offer.

For further information see http://www.imdexlimited.com/investors.html