ASIC seeks clarification of Basper capital raising prospectus

Basper Ltd, which is raising capital to acquire DirectMoney, has extended the closing date of its capital raising so that it can comply with a request from the Australian Securities and Investments Commission to clarify aspects of its fund-raising prospectus.

The original closing date for the capital raising, which is targeting a minimum of A$10 million, was June 17 but has been pushed out to June 26. Basper will issue a supplementary prospectus.

Basper said it was "confident in the appropriateness of its disclosure but has agreed to work constructively with ASIC to address its comments."

One clarification concerns the shareholding position of UK investment banking and brokerage business Liberum Capital and its associated entities, which will receive shares in lieu of payment for professional services. The Liberum associates involved in the transaction are Simon Atkinson and Cormac Leech.

Basper will clarify the recipients of the shares to be paid in lieu and the amounts.

It will also clarify references to the repayment of a loan to venture capital investor Greig Holdings.