Aspial

Aspial: proposes renounceable non-underwritten rights offer, on the basis of 1 rights share for every 25 Aspial shares, at an issue price of $0.38, representing a discount of 12.6% to the last close at $0.435. Sees estimated net proceeds of ~$23.3m. Says the rights issue is a strategic initiative to strengthen the group’s financial position. Intends to utilize the funds to finance group’s business expansion as well as for working capital. Recall the co’s most recent other corporate action occurred in mid Nov ’12, when it placed 33m new shares at $0.40 /sh, raising some $13.1m.