sir ronald brierley raises more money

Sydney - Friday - April 7: (RWE Aust Business News) -

Further to the announcement made by Guinness Peat Group (ASX:GPG) regarding the placement of new ordinary shares the price and issue size have now been
determined following the book build process.

The placement price was set at $NZ2.60 each share and subject to completion of the placement 51 million shares will be issued.

Based on the placement price the gross proceeds are expected at $NZ132.6 million.

The shares to be issued will represent about 5.19pc of GPG's issued ordinary share capital prior to the placement.

GPG shares last traded at $2.28.