Moko Social Media Ltd. (MOKO)

[badman]

Pump and dump? Naw, now they can work on the gold of REC*IT. No more girly and liberal wasting of money. Just the main goal of "With a successful entitlement issue now behind us, the Company can concentrate on the important task of ongoing product development and user up-take of its products for U.S. Colleges and High Schools," added Mr. McCann.

April 11, 2016 08:30 ET
MOKO Social Media Raises A$8.18m From Fully Subscribed Entitlement Issue

ALEXANDRIA, VA--(Marketwired - Apr 11, 2016) - MOKO SOCIAL MEDIA LIMITED (ASX: MKB) (NASDAQ: MOKO) (the Company) is pleased to advise that the pro-rata non-renounceable Entitlement Issue announced on 1st March 2016 ("the Offer") has closed fully subscribed raising A$8,178,867 before costs.
The Company received Applications for Entitlements and Shortfall Securities pursuant to the Entitlement Issue Prospectus totaling 412,825,840 ordinary shares, together with free attaching options. The remaining Shortfall Securities of 405,060,839 ordinary shares, together with free attaching options, will be fully placed pursuant to the underwriting arrangements outlined in the Entitlement Issue Prospectus and Shortfall Firm Commitment Agreements entered into. The Offer is therefore fully subscribed.
The issue of the ordinary shares and options noted above will occur on Tuesday, 12th April 2016.
The Company's Chairman, Greg McCann, expressed the Board's appreciation to all participating shareholders, underwriters and others who took up the shortfall, for their strong support. "With a successful entitlement issue now behind us, the Company can concentrate on the important task of ongoing product development and user up-take of its products for U.S. Colleges and High Schools," added Mr. McCann.