In a strategic move, I Synergy Group Limited (ASX: IS3) has announced a private placement to raise A$180,000, securing the support of leading capital markets and technology expert Dato’ Victor Hoo. Under the subscription agreement, Dato’ Victor will acquire 15,000,000 new shares at AU$0.012 per share, reflecting a 20.0% premium to the closing price on November 14, 2023, and a 22.0% premium to the 10-day VWAP. The funds will bolster working capital needs. Post-placement completion on November 17, Dato’ Victor will assume a role as an independent non-executive director on the IS3 Board, bringing over two decades of experience spanning various industries.
His expertise, particularly in capital markets and technology, aligns with IS3's growth initiatives, emphasizing investor engagement and capital market opportunities. Dato’ Victor expressed excitement about contributing to IS3's success by leveraging his experience in accessing capital markets, optimizing existing assets, and identifying new business prospects. IS3 Executive Chair Dato’ Lawrence Teo welcomed Dato’ Victor's appointment, recognizing it as a significant endorsement of the company's growth potential.
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