FOS Capital finds support for $1.86 million placement and launches shareholder plan

Placement Sets Discounted Funding Price

FOS Capital Limited (ASX:FOS) has locked in approximately $1.86 million from institutional and sophisticated investors, giving the commercial lighting and traffic systems group fresh capital while pricing the issue at a noticeable discount to the market. The non-underwritten placement will issue about 15.5 million new shares at $0.12 each, compared with a last closing price of $0.15 and a 10-day VWAP of $0.1347.

Approximately 12.92 million shares will be issued under FOS Capital’s existing placement capacity, raising about $1.55 million. A further 2.58 million shares, worth approximately $310,000, have been committed by directors Alexander Beard, Con Scrinis, Michael Koutsakis and Michael Monsonego, although that tranche still requires shareholder approval at the company’s annual general meeting.

Shareholders Offered Additional Entry

The company will also open a Share Purchase Plan for eligible shareholders with registered Australian or New Zealand addresses. Investors will be able to subscribe for up to $30,000 of new shares at the same $0.12 offer price, without brokerage or transaction costs, with the plan targeting up to a further $750,000. The amount ultimately raised is not guaranteed.

For existing shareholders, the SPP provides a chance to participate at the placement price, but the issue also brings dilution from the new shares. FOS Capital has not disclosed the post-raising share count or the resulting dilution percentage in the announcement, leaving the final ownership impact dependent partly on the SPP and the approved director allocation.

Capital Targeted at Lighting and Traffic Growth

FOS Capital said the proceeds will support working capital tied to the Queensland Schools Lighting Upgrade Program, the ongoing build-out of Aldridge Traffic Systems, its cost-reduction and operational-efficiency program, and broader working capital needs. Chief executive Con Scrinis said the funding would strengthen the balance sheet and support growth initiatives, while the company also pointed to its strengthened order book and record quote pipeline.

The placement shares are scheduled to settle on 16 September 2026 and begin trading on 17 September. The SPP is due to open on 14 September, with results expected on 6 October and new shares issued on 8 October. The next material test will be whether the capital is translated into progress across the named programs, rather than simply expanding the company’s funding runway.