Announcement
OFFER: ARV: Completion of Rights Offer
08:32am
ARV
17/07/2019 08:31
OFFER
PRICE SENSITIVE
REL: 0831 HRS Arvida Group Limited
OFFER: ARV: Completion of Rights Offer
Arvida Group Limited (NZX:ARV) is pleased to announce the close of its fully
underwritten 1 for 5.7 pro rata renounceable rights offer announced on 25
June 2019, with strong shareholder support.
Approximately 69.0 million new shares were taken up by shareholders,
representing approximately 86.5% of the new shares available under the rights
offer. This represents gross proceeds of $79.3 million.
The new shares taken up under the rights offer are expected to be allotted on
22 July 2019.
Shortfall bookbuild
Approximately 10.8 million shares out of a total rights issue offer size of
79.8 million shares are available for the shortfall bookbuild component of
the offer, to be conducted by Forsyth Barr Limited and Jarden Securities
Limited as Joint Lead Managers. The bookbuild will be conducted today.
Shareholders who did not take up their full entitlements in the rights offer
will receive a pro rata share of any positive difference between the
shortfall bookbuild price and the application price for new shares of $1.15
per new share. There is no guarantee that any value will be received from the
shortfall bookbuild by eligible shareholders who did not take up their full
entitlement.
- ENDS -
End CA:00337751 For:ARV Type:OFFER Time:2019-07-17 08:32:25
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