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Praemium Announces Successful Capital Raising
Monday October 12, 2009, 9:34 am

Original Announcement: Successful Capital Raising

Praemium announced it has successfully completed a private placement with commitments from institutional and sophisticated investors to subscribe for 24.5m new shares at $0.15 per share to raise $3.675m. In addition the Company advised that it will be undertaking a 1 for 10 Rights Issue, giving all existing shareholders the opportunity to subscribe for new shares at the same pricing as under the placement. The Rights Issue, which is expected to be underwritten, will raise up to a further $2.775m. Proceeds of the placement and the Rights Issue will be used to fund the Company's growth in Australia and the U.K.

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