Share
- Release Date: 13/02/13 18:59
- Summary: GENERAL: ARG: Share Purchase closes oversubscribed
- Price Sensitive: No
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ARG
13/02/2013 16:59
GENERAL
REL: 1659 HRS Argosy Property Limited
GENERAL: ARG: Share Purchase closes oversubscribed
MARKET RELEASE
Share Purchase Plan closes oversubscribed
Argosy Property Limited (NZX:ARG) is pleased to advise that its Share
Purchase Plan ("SPP") has closed oversubscribed. The SPP offer closed at
5.00pm on 12 February 2013. Under the SPP, Argosy sought to raise up to
$20.0 million by offering eligible shareholders the opportunity to subscribe
for new shares having a maximum total value of $15,000 per shareholder at
$0.88 per share.
The SPP offer received overwhelming shareholder support with Argosy receiving
applications totalling approximately $31.4 million which exceeded the offer
maximum of $20.0 million by approximately $11.4 million or 57%. In
accordance with the terms and conditions of the SPP, the Board has determined
that applications will be scaled back on a proportionate basis, based on the
dollar amount for which share applications have been made (and any rounding
of the number of shares to be allotted will be up to the nearest share).
Shares to be issued under the SPP offer are expected to be allotted on 18
February 2013, with refunds direct credited or mailed by cheque to
shareholders also on or around that date. No interest will be paid on any
refunds.
- ENDS -
End CA:00232885 For:ARG Type:GENERAL Time:2013-02-13 16:59:08
