Investor Presentaiton
RINCON IPO CAPITAL RAISE & PRO FORMA
Pro Forma Rincon Capital Structure on IPO
Minimum
Maximum
Current Rincon Major Shareholders
Vendor & promotor consideration¹
m
17.25
17.25
Board & Management
Shares to be issued on conversion of the
convertible loans
m
2.86
2.86
Gunsynd Plc
Shares to be issued pursuant to the IPO²
3
25.00
30.00
On Site Laboratory Services / Garry Goyne
Shares to be issued to the Lead Managers³
m
1.88
2.09
Others (including existing option holders post-exercise)
%
35.64
27.56
9.17
24.12
Shares on issue
m
46.99
52.19
Shareholding Post IPO
A$5M
A$6M
Proposed IPO share price
A$
0.20
0.20
Existing¹
Market capitalisation (at A$0.20 IPO price)
A$M
9.40
10.44
IPO participants
do
do
%
36.27
32.72
%
53.21
57.81
Cash (before costs of offer)
A$M
5.72
6.72
Convertible Loan conversion
do
%
6.08
5.47
Debt
A$M
Nil
nil
Lead Managers
do
%
4.44
4.00
Enterprise Value
A$M
3.68
3.72
¹Rincon share consolidation 4.5 for 1 to 13.6 million plus exercise of all existing options
¹Rincon share consolidation 4.5 for 1 to 13.6 million plus exercise of all existing options
2 Rincon proposing to raise A$5M via the Issue of 25 million shares @ A$0.20 per share, oversubscription
capacity of A$1M allowing for another 5 million shares
3Shares to be issued to Lead Managers on completion of the IPO
Rincon Resources Ltd - November 2020 Investor Presentation
7
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