Bravura Solutions Limited Non-Renounceable Rights Issue – Allotment of Shares to Participating Shareholders
Sydney, 1 September 2009 (ASX: BVA/OTCQX: BRVSY) Further to the announcement issued by Bravura Solutions Limited (Bravura) on 27 August 2009, Bravura confirms that it has today issued and allotted a total of 103,254,303 new shares to those shareholders who participated in the recently completed rights issue. Normal trading in these newly issued shares will commence on Wednesday, 2 September 2009. Holding statements have been despatched to shareholders participating in the rights issue recording their adjusted holdings.
Bravura intends to issue a total of 119,699,303 new shares to wholly owned or affiliated subsidiaries of Ironbridge Fund II, a fund that is managed or advised by Ironbridge Capital Pty Ltd (Underwriter). These shares represent the final number of shortfall shares that were not taken up by Bravura shareholders under the rights issue. The issue of these shortfall shares to the Underwriter is now expected to occur on 4 September 2009 (being earlier than the previously scheduled date of 11 September 2009 referred to in Bravura’s announcement of 27 August 2009).
Therefore, on completion of the Underwriting Agreement, the total number of new shares issued will be 222,953,606. This is 13 more shares that the 222,953,593 shares, the subject of the Appendix 3B application lodged by Bravura with ASX on 27 July 2009 at the time the rights issue was first announced. This discrepancy is attributable to the rounding of entitlements of participating shareholders. An Appendix 3B applying for quotation of these additional 13 shares accompanies this announcement.