SECURITY PURCHASE PLAN
Arena REIT advises that it has accepted $10 million in new equity through the Security Purchase Plan (SPP) which closed on 28 August 2017. A total of 4,925,032 new securities will be issued at a price of $2.03, which is the same price as securities issued under the institutional placement completed in July 2017.
The SPP was oversubscribed and a scale back was undertaken in accordance with the terms and conditions set out in the SPP Booklet released to the ASX on 7 August 2017. Applicants will receive 55.2% of the securities for which they applied.
New securities will be issued and allotted on 5 September 2017 and are expected to trade from 6 September 2017.
ARF Price at posting:
$2.34 Sentiment: None Disclosure: Not Held
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