SLM advises that it has completed an Independent Valuation Report for ASX Listed Elixinol Global Limited (ASX EXL).
Under Australian Securities Exchange (“ASX”) Listing Rule 7.1A.3 where equity securities are issued for non-cash consideration (i.e. the acquisition of an asset), the eligible entity must provide for release to the market a valuation of the non-cash consideration that demonstrates that the issue price of the securities complies with the Listing Rule 7.1A.3. The rule requires that the eligible entity must demonstrate that the deemed issue price of the securities issued in consideration for the acquisition of the asset is no lower than 75% of the volume weighted average share price (“VWAP”) of the securities over the 15 days during which trades in the securities were recorded immediately before the securities are issued.
A copy of the report can be found here: https://www.asx.com.au/asxpdf/20190424/pdf/444hwsnrxq07rr.pdf
For further information, please contact Barry Lewin or Kuo ning Ho from SLM Corporate on 03 9244 9644.