ALF
28/04/2015 12:55
GENERAL
PRICE SENSITIVE
REL: 1255 HRS Allied Farmers Limited
GENERAL: ALF: Allied Farmers capital raising
28 April 2015
Allied Farmers announces capital raising and Appendix 7
Allied Farmers (Allied Farmers, NZX: ALF) today has announced that it is
seeking to raise additional capital by way of:
- an offer of ordinary shares in a private placement, indicatively expected
to raise $200,000 to $300,000;
- an offer of ordinary shares to all shareholders under a partially
underwritten share purchase plan to raise a maximum of $1,000,000; and
- subsequent to and depending on the success of the share purchase plan, an
offer of ordinary shares in a private placement of a maximum of $500,000.
All shares will be issued at 5 cents ($0.05) per share, which represents a
discount of 10 percent from the volume weighted average trading price of the
shares measured over the 20 trading day period prior to 24 April 2015 of 5.5
cents ($0.055) per share.
Allied Farmers will deploy this new capital to partially retire secured debt
and to assist with working capital requirements. The actual amount raised in
these offers will depend on market conditions, uptake in the share purchase
plan, and the success of Allied Farmers' private placement efforts. Allied
Farmers will not issue shares to raise more than $1.2 million, and the actual
amount raised could be substantially less. The share purchase plan
documentation will be distributed to shareholders on or before 14 May 2015.
Fraters Group Limited has agreed to act as a partial underwriter of the share
purchase plan.
All new shares issued by way of the private placement(s) and share purchase
plan will rank equally with existing Allied Farmers ordinary shares currently
on issue.
Garry Bluett
Chairman
End CA:00263608 For:ALF Type:GENERAL Time:2015-04-28 12:55:03
