HMC Capital (ASX: $HMC) Share Purchase Plan Completion

HMC Capital Limited (ASX: $HMC) has successfully completed its share purchase plan (SPP) with overwhelming support from eligible shareholders. The SPP offer, which closed on Tuesday, 18 June 2024, received approximately $58.3 million in valid applications from 2,467 eligible shareholders. The average SPP application amount was $23,630. As a result of the additional demand, HMC has increased the size of the SPP from $30 million to $58.3 million and accepted all valid applications in full. New fully paid ordinary shares in HMC (SPP Shares) will be issued under the SPP at $6.50 per share, with the proceeds to be used for strategic acquisitions, transaction costs, and debt repayment.

Executive Commentary on Share Purchase Plan Completion

We are pleased to announce the successful completion of our share purchase plan, which received overwhelming support from our eligible shareholders. The oversubscription and increased size of the SPP demonstrate the confidence and commitment of our shareholders in HMC's strategic initiatives. The proceeds from the SPP, along with the Placement and other strategic actions, will be instrumental in funding the 100% acquisition of Payton Capital Ltd, covering related transaction costs, and strengthening our financial position. We appreciate the ongoing support of our shareholders and look forward to delivering value through our strategic growth initiatives.

Summary of Share Purchase Plan Completion and Outlook

HMC Capital Limited (ASX: $HMC) has successfully completed its share purchase plan, demonstrating strong support from eligible shareholders. The oversubscribed SPP, which saw an increase in size to $58.3 million, reflects confidence in HMC's strategic direction. The proceeds from the SPP, in addition to the Placement and other actions, will be utilized to fund the 100% acquisition of Payton Capital Ltd, cover related transaction costs, and strengthen the company's financial position. The issuance of new fully paid ordinary shares in HMC (SPP Shares) at $6.50 per share is expected to further support the company's ambitions and growth trajectory. HMC remains well positioned to execute its strategic initiatives and drive value for its investors in the medium term.