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- Release Date: 27/03/13 10:35
- Summary: PLACE: HBY: HBY announces capital raising to fund future growth
- Price Sensitive: No
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HBY
27/03/2013 08:35
PLACE
REL: 0835 HRS Hellaby Holdings Limited
PLACE: HBY: HBY announces capital raising to fund future growth
Hellaby Holdings announces capital raising to fund future growth
Placement Open
Hellaby Holdings Limited (NZX: HBY) today announced that it has applied for a
trading halt to undertake a targeted placement of new shares. The trading
halt is expected to be lifted immediately following the completion of the
placement process.
Hellaby Holdings is seeking to raise NZ$50 million by way of a NZ$40 million
share placement to institutional investors and a NZ$10 million Share Purchase
Plan (SPP) to eligible shareholders.
The capital raising is part of Hellaby Holding's strategy to position the
company for future growth and broaden the shareholder register. It is not to
fund the recently announced Contract Resources acquisition.
Institutions who participate in the placement will also be eligible to
receive Hellaby Holding's interim dividend and participate in the company's
Dividend Reinvestment Plan (DRP).
The board has declared the interim dividend will be 5 cents per share, fully
imputed, for the year ended 30 June 2013. The dividend will be paid on
Friday 19 April 2013. For the purposes of determining the shareholder
entitlements the company will have a record date of 5:00 pm, 12 April 2013.
All new shares issued by way of the placement and SPP will rank equally with
existing Hellaby Holdings ordinary shares currently on issue.
Long-time supportive and major shareholder, Castle Investments is fully
supportive of the capital raising and will be participating.
Ends
End CA:00234585 For:HBY Type:PLACE Time:2013-03-27 08:35:53
