- Release Date: 11/06/15 17:32
- Summary: RIGHT: KPG: Successful completion of retail bookbuild
- Price Sensitive: No
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KPG 11/06/2015 17:32 RIGHT PRICE SENSITIVE REL: 1732 HRS Kiwi Property Group Limited RIGHT: KPG: Successful completion of retail bookbuild COMPLETION OF RETAIL BOOKBUILD Kiwi Property advises that it has successfully completed the retail bookbuild component (Retail Bookbuild) of its underwritten 1 for 9 entitlement offer (Offer). The Offer was announced on 18 May 2015, and will raise a total of approximately NZ$151.9 million. The clearing price under the Retail Bookbuild was NZ$1.23 per share, a premium of NZ$0.03 per share over the application price of NZ$1.20 under the Offer. Therefore, eligible retail shareholders who elected not to take up their entitlements and ineligible retail shareholders will receive NZ$0.03 for each new share not taken up by them. The Retail Bookbuild attracted broad support from existing and new institutional shareholders from New Zealand and offshore. The shares taken up under the Retail Bookbuild are expected to be allotted and commence trading on 16 June 2015. SUBSCRIPTION SCHEDULE The following table summarises the distribution of subscribed entitlements during the Offer (excluding the premiums in respect of the bookbuilds): INSTITUTIONAL COMPONENT Existing shareholders: $65.2m Bookbuild participants: $4.5m Total proceeds: $69.7m RETAIL COMPONENT Existing shareholders: $42.5m Bookbuild participants: $39.7m Total proceeds: $82.2m TOTAL ENTITLEMENT OFFER Existing shareholders: $107.7m Bookbuild participants: $44.2m Total proceeds: $151.9m Chris Gudgeon, Chief Executive, said: "The outcome from the 1 for 9 entitlement offer has been very pleasing, with approximately 71% of all entitlements taken up by existing shareholders, and NZ$0.03 per share of value being received by those retail shareholders who did not take up their entitlement or who were ineligible to do so." FURTHER INFORMATION Shareholders who have any questions about the Offer are encouraged to read the Offer Document which is available on the website established for the Offer, kiwipropertyrightsoffer.co.nz, and seek financial, investment, or other professional advice from a qualified professional adviser. Kiwi Property shares are expected to resume trading on the opening of the NZX Main Board on 12 June 2015. > Ends DISCLAIMER This announcement has been prepared for publication in New Zealand and may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy securities in the United States or any other jurisdiction. The entitlements and shares to be offered in the Offer described in this announcement have not been, and will not be, registered in the United States under the US Securities Act of 1993 and may not be offered or sold in the United States, except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable to US state securities law. CONTACT US FOR FURTHER INFORMATION Chris Gudgeon Chief Executive [email protected] +64 9 359 4011 mobile +64 21 855 907 Gavin Parker Chief Operating Officer [email protected] +64 9 359 4012 mobile +64 21 777 055 ABOUT US Kiwi Property (NZX: KPG) is the largest listed property company on the New Zealand Stock Exchange and is a member of the NZX15 Index. We've been around for more than 20 years and we proudly own and manage a $2.28 billion portfolio of real estate, comprising some of New Zealand's best shopping centres and prime office buildings. Our objective is to provide investors with a reliable investment in New Zealand property by targeting superior risk-adjusted returns over time through the ownership and active management of a diversified, high-quality portfolio. To find out more, visit our website kp.co.nz End CA:00265570 For:KPG Type:RIGHT Time:2015-06-11 17:32:33
Ann: RIGHT: KPG: Successful completion of retail bookbuild
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