AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Australian Securities Exchange has approved LawFinance, formerly JustKapital, to get re-instated to the official list of ASX. Along with this approval, the name of financial sector company JustKapital (ASX:JKL) has officially been changed to âLawFinance Limitedâ (ASX:LAW) on ASX effective 31 December 2018.
LawFinance Limited (ASX:LAW) provides litigation funding, disbursement funding and after the event insurance services in Australia and the United States. LawFinance shares last traded on 17 July 2018 at $0.074 and are now reported to re-commence trading on Wednesday, 2 January 2019.Â
In connection with the satisfaction of conditions for the reinstatement of its securities, the company has enclosed the capital structure and the statement of commitments in the prospectus dated 12 September 2018.
As of today, i.e., 31 December 2018, LawFinance has 483,635,467 issued capital that includes 147.93 million existing shares of the company, 24.52 million shares in right issue, 215.09 million shares issued to NHF founder in scrip offer, and 93.75 million shares issued under placement. These shares were issued at a share price of A$0.08 per share. However, the company told that these total shares on the issue do not include the exercise of all unlisted options, WHSP Warrants, New Investor Warrants, Founder Warrants and conversion of the convertible bonds.
The company also disclosed the pro-forma historical statement of its financial position under which cash and cash equivalents of the company stood at US$9,306,000 for the period ended 30 June 2018. It reflects the funds raised under the Prospectus and Placement, i.e., A$2 million and A$7.5 million, respectively.
The independent investigator, Stantons International Securities Pty Ltd stated that based on the current cash flow forecasts of the company post 30 June 2018, it is their view that JustKapital will have âsufficient working capitalâ to meet its objectives.
As per the reinstatement announcement, the working capital amount of the company was reduced by the $2.34 million offset against the Lucerne Group loan. In the concluding statement, the company stated it has raised sufficient funds to cover all the financial requirements at close and still retains adequate working capital to operate the Merged Entity going forward.
Over the past 12 months from its last trade, LAW stock has witnessed a plunge of 61.05% including the decline of 2.63% in one month to 17 July 2018.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
