Woops, meant to add the following OPTUM GROUP LIMITED 2002-08-06 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ PLACEMENT AND RESTRUCTURE INITIATIVES
Optum Group Limited ("Optum or Company") is pleased to announce the completion of a placement of 24,507,075 fully paid ordinary shares to clients of Bell Potter Securities Limited. The placement is to be completed at a price of 0.6 cents per share to raise approximately $147,000 before costs. The placees will also make available to Optum a short term debt funding facility of $100,000. An Appendix 3B is attached.
As part of the placement process, Mr Peter Jermyn will join the board of Optum with current director, Mr Robert King stepping aside as director. Mr King will remain in the management team. Mr Jermyn has been involved in a number of public company initiatives which have resulted in the successful commercialisation of a number of emerging and growth industry opportunities.
PROPOSED SHARE CONSOLIDATION, RENOUNCEABLE RIGHTS ISSUE AND DEBT RESTRUCTURING
The Company also proposes to proceed with, subject to obtaining all necessary shareholder approvals, a one (1) for ten (10) share consolidation followed by a five (5) for (2) renounceable rights issue to existing shareholders. Funds raised by the placement and the rights issue will be utilised to:
(a) continue to commercialise the Company's current pathology transaction system, "Telepathy";
(b) investigate additional opportunities in the medical and healthcare products and services industry.
The Company will shortly despatch a notice of meeting and explanatory memorandum seeking, amongst other things, shareholder approval to consolidate it's share capital on a one (1) for ten (10) basis such that the total issued capital post consolidation will be approximately 18.79m ordinary fully paid shares. Following approval for theshare consolidation, the Company intends to proceed with a five (5) for two (2) renounceable rights issue at an issue price of 5 cents per share (with a free attaching option exerciseable at 10 cents on or before 31 December 2004 for every two (2) shares subscribed for) to raise approximately $2.35 million through the issue of up to 46.9 million shares and 23.45 million options (on a post consolidated basis).
The funds raised will be utilised to retire debt and progress with the initiatives set out above. It is also anticipated that the considerable corporate experience of the new board member will assist in securing underwriting commitments for the proposed rights issue.
As part of the placement process, Albert Ho (and his related entities Flandron Pty Ltd and Mediplus Management Pty Ltd) have agreed to reduce current debts owing by the Company from approximately $1.22m to $800,000. Flandron will also assign $400,000 of its existing convertible note debt (representing half of the reduced $800,000 outstanding amount) to the entities participating in the placement. The debt restructuring represents a significant saving to the Company. In addition, Flandron and the assignees of the convertible note have agreed not to demand repayment of any monies outstanding until after the completion of the proposed rights issue referred to above.
The inclusion of Mr Jermyn will provide Optum with a significant opportunity to maximise commercial exposure of its existing pathology transaction system, "Telepathy", and further investigate other complimentary opportunities in the medical and health products and services industry.
Dr A Ho EXECUTIVE CHAIRMAN
MORE TO FOLLOW
OPTUM GROUP LIMITED 2002-08-06 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ APPENDIX 3B NEW ISSUE ANNOUNCEMENT
APPLICATION FOR QUOTATION OF ADDITIONAL SECURITIES AND AGREEMENT
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property andmay be made public.
We (the entity) give ASX the following information.
PART 1 - ALL ISSUES You must complete the relevant sections (attach sheets if there is not enough space).
1. Class of securities issued Fully Paid Ordinary Shares or to be issued (quoted)
2. Number of securities issued 24,507,075 fully paid or to be issued (if known) ordinary shares or maximum number which may be issued
3. Principal terms of the securities Fully paid ordinary shares (eg, if options, exercise price and expiry date; if partly paid securities, the amount outstanding and due dates for payment; if convertible securities, the conversion price and dates for conversion)
4. Do the securities rank equally Yes in all respects from the date of allotment with an existing class of quoted securities
If the additional securities do not rank equally, please state: * the date from which they do * the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment * the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
5. Issue price or consideration $147,042 (at 0.6 cents per share)
6. Purpose of the issue (if To fund sales and marketing issued as consideration for initiatives for the Company's the acquisition of assets, pathology transaction system clearly identify those "Telepathy" and investigate assets) other opportunities in the medical and health products and services industry
7. Dates of entering securities On or before 07/08/2002 into uncertified holdings or despatch of certificates
NUMBER CLASS 8. Number and class of all 187,887,656 Ordinary fully paid securities quoted on shares ASX (including the 33,500,000 Options exercisable securities in clause on or before 30/06/2005 2 if applicable) at 20 cents each
NUMBER CLASS 9. Number and class of all 17,8000,000 Options exercisable on securities not quoted or before 28/09/2003 on ASX (including the at 10 cents each securities in clause 2 1,000,000 Options exercisable on if applicable) or before 30/06/2003 at 0.0001 cents each 3,000,000 Options exercisable on or before 30/06/2005 at 20 cents each
10.Dividend policy (in the case Participation available from of a trust, distribution the date of issue policy) on the increased capital (interests)
PART 2 - BONUS ISSUE OR PRO RATA ISSUE
Items 11 to 33 are Not Applicable
PART 3 - QUOTATION OF SECURITIES You need only complete this section if you are applying for quotation of securities
34. Type of securities (tick one)
(a) X Securities described in Part 1
(b) All other securities
Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities
Entities that have Ticked Box 34(a)
Additional Securities Forming a New Class of Securities (If the additional securities do not form a new class, go to 43)
Tick to indicate you are providing the information or documents
35. If the securites are equity securities, the names of the 20 largest holders of the additional securities, and the number and percentage of additional securities held by those holders
36. If the securites are equity securities, a distribution schedule of the additional securities setting out the number of holders in the categories 1- 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 - and over
37. A copy of any trust deed for the additional securities (now go to 43)
Entities that have Ticked Box 34 (b)
Items 38 to 42 are Not Applicable
ALL ENTITIES
Fees
43. Payment method (tick one)
Cheque attached
Electronic payment made Note: Payment may be made electronically if Appendix 3B is given to ASX electronically at the same time.
Periodic payment as agreed with the home branch has been arranged Note: Arrangements can be made for employee incentive schemes that involve frequent issues of securities.
QUOTATION AGREEMENT
1. Quotation of our additional securities is in ASX's absolute discretion. ASX may quote the securities on any conditions it decides.
2. We warrant the following to ASX.
* The issue of the securities to be quoted complies with the complies with the law and is not for an illegal purpose.
* There is no reason why those securities should not be granted quotation.
* An offer of the securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.
* Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any securities to be quoted and that no-one has any right to return any securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the securities be quoted.
* We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the securities to be quoted, it has been provided at the time that we request that the securities be quoted.
* If we are a trust, we warrant that no person has the right to return the securities to be quoted under section 1019B of the Corporations Act at the time that we request that the securities be quoted.
3. We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
4. We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before quotation of the securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.
A Ho EXECUTIVE CHAIRMAN 06/08/2002
OPM Price at posting:
0.0¢ Sentiment: None Disclosure: Held