Xref Limited Secures $3.6 Million in Capital Raise, Announces Share Purchase Plan

Highlights:

• Xref Limited (ASX: XF1) successfully raises $3.6 million through a placement at $0.13 per share.
• The company launches a Share Purchase Plan (SPP) to raise up to $1 million, allowing shareholders to participate at the same price.
• Funds will be used to strengthen the balance sheet, reduce debt, and enhance operational efficiency.

Capital Raise to Drive Financial Stability

Xref Limited (ASX: XF1) has completed a $3.6 million placement to bolster its financial position and drive long-term growth. The placement, priced at $0.13 per share, represents a 4% premium to the last closing price before the company entered a trading halt on March 20, 2025. The placement was backed by EPI Capital Pty Ltd (Tanda), an HR technology firm specializing in payroll and workforce management solutions.

At the time of writing, Xref Limited’s stock is trading at $0.13, reflecting investor confidence in the company's financial restructuring efforts.

Share Purchase Plan for Existing Investors

To provide retail investors with equal access to the capital raise, Xref has launched a Share Purchase Plan (SPP), aiming to raise up to $1 million. Eligible shareholders can apply for up to $30,000 worth of shares at $0.13 per share, matching the placement price.

The SPP will open on April 4, 2025, and close on April 22, 2025. Shares issued under this plan will rank equally with existing ordinary shares.

Strategic Use of Funds

Proceeds from the placement and SPP will be utilized to reduce net debt, restructure operations, and enhance cash flow efficiency. The company believes this financial boost will support sustainable growth and profitability.

Xref CEO Lee-Martin Seymour expressed enthusiasm about the partnership with Tanda, stating that the raise fortifies the company’s balance sheet and positions it for long-term success.

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