SYDNEY, AUSTRALIA--(Marketwired - April 22, 2015) - Simavita Limited ("Simavita" or the "Company") (TSX VENTURE:SV)(ASX:SVA), a global leader in the digital healthcare sector, provides disclosure under ASX Listing Rule 3.10.5A in respect of its recent placement of 7,372,774 common shares and CDIs under ASX Listing Rule 7.1A at an issue price of $0.45 per security (the "Placement").

As a result of the issue of the common shares and CDIs under the Placement, and the simultaneous issue of 11,059,161 securities under ASX Listing 7.1 at the same issue price of $0.45 per security, the following dilution to existing holders occurred:

Total securities Securities held by existing holders
Shares on issue pre Placement 73,727,743 73,727,743 73,727,743 100%
Shares issued under LR 7.1 11,059,161 84,786,904 73,727,743 86.9%
Shares issued under LR 7.1A 7,372,774 92,159,678 73,727,743 80.0%

The specific dilution to existing holders as a result of the Placement was 8.0%.

The common shares and CDIs issued under the Placement were issued for cash. A pro rata issue to existing shareholders was not made at that time for the following reasons:

  • A Share Purchase Plan, which enabled existing shareholders to acquire securities at the same issue price of $0.45 per security, was offered to shareholders only nine months ago.

  • As a result of the above, the Company did not believe there would be a significant number of existing shareholders who would wish to participate in such an issue so soon after the previous one.

  • The placement of securities to sophisticated investors gave the Company certainty and introduced a number of new investors of high quality to the Company's register.

The Placement was not underwritten.

On a pro-rata basis, the Company paid a total of $101,546 in commissions to the broker who assisted the Company with the Placement. This amount represented approximately 3.1% of the $3,317,748 raised from the Placement.

For further information, see our website ( or contact the persons outlined below.

About Simavita

Simavita is a medical device company that has developed an innovative, world first solution for the management of urinary incontinence, with a focus on the elderly. The first product is the SIM® platform technology which is an instrumented incontinence assessment application that provides evidence-based incontinence management care plans to the residential aged care market.

About SIM®

SIM® is a wireless sensor technology that delivers evidence-based instrument incontinence data on individuals. SIM® provides user friendly tools and software to assess the incontinence condition and to help plan better outcomes. SIM® is used to detect, record and report incontinence events during a compulsory or recommended assessment period in residential aged care facilities to develop an evidence-based incontinence care plan.

Conducting assessments is mandatory in many countries and the incontinence assessment creates an influential element of care of each individual. For more information on Simavita or SIM®, please visit

The TSX Venture Exchange has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.

Forward-Looking Information

This document may contain "forward-looking information" within the meaning of Canadian securities laws ("forward-looking information"). This forward-looking information is given as of the date of this document.

Forward-looking information relates to future events or future performance and reflects Simavita management's expectations or beliefs regarding future events and includes, but is not limited to, information with respect to the successful completion of the Placement, receipt of TSXV acceptance, anticipated use of net proceeds, and Simavita's strategy and development of its technology. Assumptions upon which such forward-looking information is based include that Simavita will be able to successfully execute on its business plans. Many of these assumptions are based on factors and events that are not within the control of Simavita and there is no assurance they will prove to be correct.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "potential", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or information that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Simavita to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to actual results of current business activities; changes in business plans and strategy as plans continue to be refined; other risks of the medical devices and technology industry; delays in obtaining governmental approvals or financing or in the completion of development activities; as well as those factors detailed from time to time in Simavita's interim and annual financial statements and management's discussion and analysis of those statements. Although Simavita has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Simavita provides no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

Contact Information:

Philippa Lewis
Chief Executive Officer
+ 61 2 8405 6381

Thomas Howitt
Chief Financial Officer
+ 61 418 351 127

Media and Investor Relations
Jane Lowe
+ 61 411 117 774