COMPLETION OF SPP
BluGlass Limited (ASX: BLG) is pleased to announce that it has completed its Share Purchase Plan which was announced to ASX on 21 May 2018. Under the SPP, shareholders on BluGlass’ register at 5 pm on 18 May 2018 with registered addresses in Australia and New Zealand were offered the opportunity to apply for up to A$15,000 worth of BluGlass’ ordinary shares at a price of $0.37 per share. A total of $2,030,000 was raised pursuant to the SPP. This will result in the issue of 5,486,353 fully paid ordinary shares in the Company.
BluGlass Limited (ASX: BLG) is a global leader commercialising a breakthrough technology using Remote Plasma Chemical Vapour Deposition (RPCVD) for the manufacture of high-performance LEDs and other devices. BluGlass has invented a new process using RPCVD to grow advanced materials such as gallium nitride (GaN) and indium gallium nitride (InGaN). These materials are crucial to the production of high-efficiency devices such as power electronics and high-brightness light emitting diodes (LEDs) used in next-generation vehicle lighting, virtual reality systems and device backlighting. The RPCVD technology, because of its low temperature and flexible nature, offers many potential benefits over existing technologies including higher efficiency, lower cost, substrate flexibility (including GaN on silicon) and scalability.