Ann: Trading Halt, page-15

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gse1963

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12/03/15

14:23

Post #: 14902986
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Originally posted by Stockrocker ↑

Thanks Nani for this article, not sure why you didn't post it here:

"Rent.com.au raising up to $10 million

EDITED BY SARAH THOMPSON, ANTHONY MACDONALD AND JAKE MITCHELL
Digital rental classifieds business Rent.com.au is seeking to raise up to $10 million as part of its backdoor listing through former copper, gold and nickel explorer Select Exploration.
Select, an ASX-listed shell company with a $2 million market capitalisation, went into a trading halt on Tuesday morning as Rent’s brokers sought support for the equity raising.
Rent was seeking to raise $7.5 million to $10 million at 20¢ a share. The shares were being offered at the same price issued to Rent vendors and Select’s current share price on a post-consolidation basis.
If successful, Rent would re-list with a $20 million to $22.5 million market capitalisation and up to $10 million cash balance.
Rent was being marketed as Australia’s No.1 dedicated rental property-focused website, which wanted to create one marketplace for renters, agents and landlords.
Joint lead managers Baillieu Holst and GMP Securities were calling for bids by midday on Thursday."

$10 mil cash will go a long way into marketing and building brand awareness and possibly turn RNT into cashflow positive.

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Hi all , Been thinking about this transaction and doing some ringing around but one question I have is , has anyone seen any real audited financial statements from rent.com.au and what there finance turnover is currently and current profit or loss ?

Or is it a matter of waiting to see if the deal goes through with SLT and waiting for the next quarter or 2 of financials ?

thanks and cheers g

SLT Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
1 Upvote

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Ann: Trading Halt, page-15

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