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Resonance offer

CLAREMONT-BASED healthcare company Resonance Health Ltd this week announced a deeply discounted $3.06 million entitlements offer at two cents per share to fund further development of FibroScreen, a non-invasive liver fibrosis test using magnetic resonance imaging. The capital raising puts a cloud over a planned $8 million capital injection from the Queensland Investment Corporation, which had been priced at 6.3 cents per share. Shareholders are being offered three new ordinary shares for every four shares currently held, at a price of two cents per share. Resonance Health said in a statement the share price was not indicative of the value of its assets, and the board was mindful that many investors were holding the stock at a loss. The board wished to provide an opportunity for shareholders to participate at a lower pricing level, and believed the current share price was a result of the perception the company had insufficient funds to develop its technologies. Shares not taken up may be issued to other wholesale and professional investors, but no shares will be issued under the offer unless the company receives subscriptions of at least $1.5 million before costs, inclusive of outside investment.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/08/18

1 year TSR5 year TSR
147thAlterra60%9%
353rdResonance Health8%15%
626thEphraim Resources-31%-19%
719thDe.Mem-48%0%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

06/09/18
$32k Bought
29/05/18
$2k Bought
23/05/18
$4k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

119th↑De.Mem$2.9m
120th↓Resonance Health$2.9m
122nd↑Ephraim Resources$2.9m
123rd↓Alterra$2.7m
237 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Resonance Health

1097thMartin Blake$60k
1250thSimon Panton$40k
Ranked by total remuneration from all listed WA companies

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