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- Release Date: 31/05/13 10:38
- Summary: PLACE: MET: Media Release Equity Raising - 31 May 2013
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MET
31/05/2013 08:38
PLACE
REL: 0838 HRS Metlifecare Limited
PLACE: MET: Media Release Equity Raising - 31 May 2013
Metlifecare Announces Successful Completion of Equity Capital Raising
Metlifecare Limited ("Metlifecare") announces the successful completion of
its equity capital raising. The placement of new shares has raised $70
million of capital for Metlifecare to strengthen its balance sheet and fund
future growth.
Metlifecare's Managing Director Mr Alan Edwards said: "The capital raising
has generated strong support from our existing shareholders. The capital
raising was also successful in attracting a number of new offshore
institutional investors and expanding our shareholder base through eligible
investors of the retail brokers."
The placement price, following the bookbuild, has been set at $3.10 per
share. Metlifecare's shares will recommence trading on the NZX this morning.
Settlement of the new shares under the offer will occur on Thursday 6 June
2013. The total number of Metlifecare shares on issue following the offer
will be 207.2 million.
Following the placement, Metlifecare is offering a Share Purchase Plan to
eligible shareholders, with further details to be announced in due course.
This will enable all Metlifecare's existing shareholders to participate in
the offer.
Metlifecare's Chairman Mr Peter Brown said: "Metlifecare's equity initiatives
have now positioned the company to maximise the value of its existing high
quality portfolio of retirement villages. Further, the company is strongly
placed to pursue its greenfield and brownfield opportunities and meet its
targeted development rate of 200 units per year by FY15."
Goldman Sachs acted as sole lead manager, placement agent, underwriter and
bookrunner for the offer.
ENDS
For more information, please contact:
Alan Edwards
Managing Director & CEO
Tel: +64 9 539 8000
About Metlifecare
Metlifecare is a publicly listed aged care and retirement lifestyle company.
Established in 1986, the company has a proven track record of successfully
owning and managing retirement villages in New Zealand. Metlifecare currently
owns villages in prime locations throughout the North Island of New Zealand,
with most providing a full continuum of care from independent villas and
apartments through to serviced apartments, rest homes and hospitals.
www.metlifecare.co.nz
End CA:00236907 For:MET Type:PLACE Time:2013-05-31 08:38:15
