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- Release Date: 14/05/14 19:12
- Summary: RIGHT: GFL: Geneva Finance announces its rights issue settles in full
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GFL
14/05/2014 17:12
RIGHT
REL: 1712 HRS GFNZ Group Limited
RIGHT: GFL: Geneva Finance announces its rights issue settles in full
Media Release 14 May 2014
GENEVA FINANCE ANNOUNCES ITS RIGHTS ISSUE SETTLES IN FULL
NZAX-listed auto loan provider GFNZ Group Ltd (Geneva) advises that its 11:18
rights issue, raising a further $6 million of equity has settled.
This equity placement, further strengthens Geneva's balance sheet and
represents another milestone in the company's development, which over the
last four years, has seen Geneva work hard to reposition and rebuild its
operations
Under the rights issue Geneva has issued a further 202.2 million ordinary
shares, of which Fedpac were allocated 182.8m shares today, raising it's
total stake in Geneva to 57.4%.
The rights issue and Fedpac's underwrite agreement were approved at the
shareholders meeting held on 29th April 2014.
ends
About Geneva
Geneva is a New Zealand-owned finance company that provides finance and
financial services to the consumer credit and small to medium business
markets. Geneva commenced business on 7 October 2002. Geneva's loans are
originated through three distribution channels (Direct, Broker and Dealer),
processed by the central sales desk then administered through a national
operations centre located at Mt Wellington, Auckland.
Geneva (GFL) is listed on the NZAX. Following the rights issue, there are
483,040,761 issued shares held by 2,356 investors.
About Federal Pacific
FedPac's operations throughout the Pacific region include investments in
Banking, Personal and Business Finance, Money Transfer and Foreign Exchange
Trading. The company was incorporated in 1993 and is based in Auckland, New
Zealand.
Alexander Communications
Kate Alexander
+64 (0)27 244 6094
[email protected]
For further information:
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