Share
ATM
13/03/2012 09:35
PLACE
REL: 0935 HRS A2 Corporation Limited
PLACE: ATM: Capital Raising
NZAX release
13 March 2012
A2 Corporation Limited
Capital Raising
A2 Corporation Limited (NZAX:ATM) (A2C, the Company) advises it has agreed
today to make a share placement of 14 million shares at a price of 37 cents
per share to AMP Capital Investors (New Zealand) Limited (AMP Capital) to
raise an amount of new equity of $5.180 million. Allotment of the shares is
expected to complete later today.
A2C is in a rapid expansion phase and the Board has maintained a prudent view
of having little or no net debt. Whilst the Company's activities are
capital efficient with the Australian business operationally self funding and
the joint venture in the UK and Ireland requiring an initial equity
commitment of only 2 million, the Board determined the circumstances were
appropriate to undertake a modest capital raising at this time to provide
flexibility for potential growth initiatives.
AMP Capital has assisted the Company by facilitating the sale of a block of
A2C shares to a number of institutions in New Zealand on terms identical to
the placement by the Company to AMP Capital. The AMP Capital shareholding
will therefore remain unchanged following the placement. This process has
enabled the Company to broaden its institutional shareholder base on
satisfactory terms and at minimal cost and we thank AMP Capital for its
assistance.
For further information contact:
Geoffrey Babidge
Managing Director
A2 Corporation Limited
+61 2 96977008
Cliff Cook
Chairman
A2 Corporation Limited
+64 (0)21 932 254
End CA:00220635 For:ATM Type:PLACE Time:2012-03-13 09:35:19
