Syntara Share Purchase Plan

Syntara (ASX: PXS) has launched a Share Purchase Plan (SPP) that gives Eligible Shareholders the opportunity to acquire up to $30,000 of new fully paid ordinary shares in Syntara, at an Issue Price of $0.022 per SPP Share without incurring brokerage or transaction costs. The funds raised from the Placement will be utilised to fund the current clinical study of lead drug asset SNT-5505 in myelofibrosis, further clinical studies in scarring and iRBD/Parkinson’s disease, in addition to general working capital purposes and capital raising costs.

Syntara CEO Gary Phillips Interview with Proactive Investors

SPP Key Highlights

Price – Shares are offered under the SPP at an Issue Price of $0.022 per SPP Share, which represents:

  • an 18.5% discount to the last close of $0.027 on Friday, 15 December 2023;
  • a 15.2% discount to the volume weighted average price of Syntara Shares traded on the ASX over the last five days on which sales in Syntara Shares were recorded before Tuesday, 19 December 2023 (being the date on which the SPP was announced); and
  • a 20.5% discount to the volume weighted average price of Syntara Shares traded on the ASX over the last ten days on which sales in Syntara Shares were recorded before Tuesday, 19 December 2023 (being the date on which the SPP was announced).

Eligible Shareholders – Participation in the SPP is optional and is open to Eligible Shareholders, including Eligible Shareholders who are Custodians on behalf of Eligible Beneficiaries on the term and conditions set out in this Offer Booklet.

Offer Period – The SPP opens on Friday, 29 December 2023, and is expected to close at 5.00pm (Sydney, Australia time) on Tuesday, 30 January 2024

Ranking of SPP Shares – All SPP Shares issued under the SPP will rank equally with existing Syntara Shares after commencement of trading.

 


 

On Tuesday, 19 December 2023, Syntara announced that it had received firm commitments from institutional and sophisticated investors to raise approximately A$10.0m by way of a two-tranche institutional placement comprising: (i) the issue of approximately 108.4 million fully paid ordinary shares at A$0.022 per share, to raise approximately A$2.4 million via a placement within the Company’s 15% placement capacity under ASX Listing Rule 7.1; and (ii) the issue of approximately 346.2 million fully paid ordinary shares at A$0.022 per share, to raise another approximately A$7.6 million, subject to shareholder approval at an extraordinary general meeting to be held in January 2024, collectively referred to as the Placement.

Syntara also announced that it was targeting raising up to $2 million by way of an offer to Eligible Shareholders under an SPP. Further details of the Placement and a copy of the Investor Presentation used in connection with the Placement and this SPP can be found in the ASX announcements dated Tuesday, 19 December 2023, which are available at www.asx.com.au and https://syntaratx.com.au/investors/ The SPP is not underwritten.  The SPP may raise less than the target amount and depending on the level of demand, Syntara may, at its absolute discretion, determine to raise a higher amount or decide to scale back Applications under the SPP.

KEY DATES

Record Date
(the date that eligibility to participate in the SPP is determined)
7:00pm (Sydney, Australia time), Monday, 18 December 2023
Announcement Date Tuesday, 19 December 2023
Opening Date Friday, 29 December 2023
Closing Date 5:00pm (Sydney, Australia time), Tuesday, 30 January 2024
Announcement of results of SPP Friday, 2 February 2024
Issue of SPP Shares under SPP Tuesday, 6 February 2024
SPP Shares commence trading on ASX Wednesday, 7 February 2024

Shareholder Services

The Syntara share register Limited is managed by Computershare Investor Services Pty Limited. Security holders can access a number of services provided by Computershare. The online service can be used to obtain information on your current holding and transaction history. You may also advise of changes to your holding such as change of address, change of email address and notification of tax file number. You can also elect how you want to receive your security holder communications.

https://www-au.computershare.com/Investor

Within Australia: 1300 855 080

International: +61 (03) 9415 4000

When accessing information online or phoning Computershare, please have your Security Reference Number (SRN) or Holder Identification Number (HIN). You can find this number on your most recent holding statement, or share certificate.