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Excite Technology Services Limited (ASX:EXT)

ALERT: Price-sensitive ASX Announcement for EXT
Current share price for EXT : $0.006 -0.001 (-14.29%)+
Announcement
Release
3 Jul 2026 10:06AM
Price at Release
$0.007
Full Release
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Summary
Excite Technology Services Limited announced a placement to raise $3.26 million by issuing fully paid ordinary shares at $0.006 per share, with each two shares accompanied by one free-attaching unlisted option. The funds are earmarked for enhancing sales, marketing, recruiting, and strengthening working capital. The placement is backed by investor commitments from various regions, including Australia, Asia, the UK, and Germany. The lead manager for this placement is SP Corporate Advisory, with Whairo Capital as Co-Manager. Part of the shares issued requires shareholder approval, which will be sought at the AGM. CEO Bryan Saba will also convert a portion of debt owed to him into equity, subject to shareholder approval.
Key Points
  • Excite Technology Services Limited announced a placement to raise $3.26 million before costs.
  • The placement involves issuing fully paid ordinary shares at $0.006 per share.
  • Every two shares will come with one free-attaching unlisted option, with an exercise price of $0.01, expiring in 36 months.
  • Funds will be used for sales enablement, productisation, recruiting salespeople, marketing activities, and working capital.
  • Shareholder approval is required for the placement options at the upcoming AGM.
  • Bryan Saba, CEO, expressed gratitude for investor support from Australia, Asia, the UK, and Germany.
  • SP Corporate Advisory Pty Ltd acted as lead manager, with Whairo Capital Pty Ltd as Co-Manager.
  • 500 million placement shares will be issued under listing rules 7.1 and 7.1A capacity.
  • Shareholder approval for 43,244,334 shares will be sought at the AGM.
  • CEO Bryan Saba agreed to convert $500,000 of his existing debt to equity.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.