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- Release Date: 10/04/14 17:22
- Summary: GENERAL: WHS: The Warehouse Group Completes $115M Capital Raise
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WHS
10/04/2014 15:22
GENERAL
REL: 1522 HRS The Warehouse Group Limited
GENERAL: WHS: The Warehouse Group Completes $115M Capital Raise
Auckland, 10th April 2014
The Warehouse Group Completes $115M Capital Raise
The Warehouse Group is pleased to announce the successful completion of its
$115M capital raise. The $115M raised consisted of a $100M placement and a
$15M Share Purchase Plan (SPP) to strengthen the balance sheet in support of
the Financial Services.
The Placement of $100M on March 7th received strong support from local and
Australian institutions and eligible NZ retail investors and was fully
subscribed, with a settlement date for the new shares of March 13th.
The Warehouse Group has now completed its Share Purchase Plan raising $15M.
Applications from eligible investors totalled $10.8M with the balance of
$4.2M taken up by the underwriter, Deutsche Craigs Limited. The Share
Purchase Plan was open to all shareholders on its register as of the record
date of March 18th and was primarily targeted at retail investors allowing
them to participate in the equity raising. The Warehouse Group CEO Mark
Powell said, "One of our main objectives for the SPP was to enable all retail
investors who wanted to participate to fully do so. We are pleased that all
shareholders who applied for shares were allotted the full amount they
applied for allowing retail investors to fully participate in the capital
raise."
The Warehouse Group Chairman Ted van Arkel said, "The capital raise was an
important step in strengthening our balance sheet to support our Financial
Services strategy. We are pleased with the level of participation from
institutional and retail investors."
For further information please contact:
Investors and Analysts
Stephen Small
Chief Financial Officer
Cellphone: +6421 714159
Media
Mark Powell, Group CEO,
to be contacted via Kim Russell
Cellphone: +6421 452860
End CA:00249359 For:WHS Type:GENERAL Time:2014-04-10 15:22:41
