LUM 0.00% 2.3¢ lumacom limited

cashed up and ready to fly

  1. 677 Posts.
    1 July 2003

    Companies Announcements Office
    Australian Stock Exchange Limited
    10th Floor, 20 Bond Street
    SYDNEY NSW 2000



    Dear Sir,

    EXERCISE OF OPTIONS

    Lumacom Limited advises that in excess of 25 million options have been exercised by optionholders at a price of 20 cents each, raising additional working capital of more than $5 million for the Company. This figure substantially exceeds the underwritten amount of $4 million.

    The exercise of options had been jointly underwritten by Tolhurst Noall Limited and E L & C Baillieu Stockbroking Limited (“Underwriters”) to a minimum of $4 million. Accordingly, there will be no call on the Underwriters for any shortfall.

    The exact number of options exercised will be advised to the market within a week, following a complete reconciliation of applications and cleared funds.

    Mr Rodd Sala said, “the overwhelming response from optionholders reflects a confidence shared by the Company’s Directors that the commercialisation strategy for the roll-out of networks of Lumacom advertising signs throughout Europe and North America will be successful, and is underpinned by a strong financial position.”

    Lumacom owns the worldwide patents and rights associated with the LED-based signage system known as LumaSigns.

 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.