MEO advises that it has successfully placed 59,898,385 million new shares (14.35% of its issued capital) at $0.45 per share to Institutional and Sophisticated Investors as defined under Section 708 of the Corporations Act. The shares were issued within MEO’s 15% placement capacity as described under ASX Listing Rule 7.1. The placement has raised gross proceeds of approximately $27m before costs of the issue and was heavily oversubscribed. Settlement is scheduled for Monday 23rd November. MEO welcomes more than twenty new Institutional investors onto its register, together with a number of new sophisticated shareholders introduced by Joint Lead Managers E.L & C. Baillieu and Morgan Stanley Australia Securities Limited.
MEO Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
