ARV
24/07/2015 15:26
SPP
PRICE SENSITIVE
REL: 1526 HRS Arvida Group Limited (NS)
SPP: ARV: Arvida Share Purchase Plan Closes Fully Subscribed
Arvida Group Limited (ARV)
Market Release
24 JULY 2015
ARVIDA SHARE PURCHASE PLAN CLOSES FULLY SUBSCRIBED
Arvida Group Limited (ARV) is pleased to announce the successful completion
of its Share Purchase Plan (SPP), which opened on 6 July 2015 and has now
closed fully subscribed.
Following the successful completion of the NZ$30 million placement
(Placement) of new shares to investors to partly fund the approximate NZ$62
million acquisition of Aria Bay, Aria Park and Aria Gardens (Aria Villages),
Arvida offered existing eligible shareholders the opportunity to subscribe
for up to NZ$5 million of new shares at the same $0.84 price paid by
investors under the Placement through the SPP offer. Each eligible
shareholder on the register as of the record date, 3 July 2015, was given the
opportunity to subscribe for up to NZ$15,000 worth of Arvida shares.
Arvida's SPP received pleasing support with applications exceeding the NZ$5
million sought. Consequently, there will be scaling in accordance with the
terms of the SPP offer. Allotment of the shares to eligible shareholders who
participated in the SPP will be made on 28 July with trading on the NZX Main
Board commencing on the same day.
Arvida Chairman, Peter Wilson said "We are very pleased with the strong
support we have received from our existing shareholders for our SPP,
reflecting their confidence in our growth strategy and support for our entry
into the Auckland market through the acquisition of the Aria Villages. Our
focus is now on our existing brownfield developments (including those at Aria
Bay and Aria Gardens) and continuing our integration processes across the
broader group."
- ENDS -
For more information contact:
Bill McDonald, Chief Executive Officer, Arvida Group Limited
Telephone: 021-270-3669 or email: [email protected]
Jeremy Nicoll, Chief Financial Officer, Arvida Group Limited
Telephone: 021-403-665 or email: [email protected]
About Arvida:
Arvida Group Limited (Arvida) is a retirement village group with an emphasis
on providing a continuum of care from independent living through to high
quality aged care services. Arvida has 21 villages across New Zealand
comprising, Aria Bay, Aria Gardens, Aria Park, Auckland; Glenbrae, Bay of
Plenty; Molly Ryan, New Plymouth; Olive Tree, Palmerston North; Waikanae
Lodge, Waikanae; Oakwoods and The Wood, Nelson; Ashwood, Blenheim; Ilam, The
Maples, Mayfair, Park Lane, Rhodes on Cashmere, St Albans, St Allisa and
Wendover, Christchurch; and Bainlea and Bainswood, Rangiora. Arvida's shares
trade on the NZX Main Board under the code ARV. See www.arvida.co.nz
End CA:00267420 For:ARV Type:SPP Time:2015-07-24 15:26:48
