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AJ Lucas Group Ltd Completes Institutional Equity Placement And Institutional Entitlement Offer

Sunday, 16 Jun 2013 07:07pm EDT 

AJ Lucas Group Ltd announced the completion of an institutional equity placement (Placement) and the institutional component of its 1-for-1.25 accelerated non-renounceable entitlement offer (Entitlement Offer) of fully paid ordinary Lucas shares (New Shares) at an offer price of $1.20 per New Share (Offer Price). Completion of the Placement and institutional component of the entitlement offer (Institutional Entitlement Offer) represent the first two stages of Lucas' proposed $148.8 million equity raising, announced on June 13, 2013. The Institutional Entitlement Offer has raised gross proceeds of approximately $103.8 million (subject to final shareholding reconciliations) and the Placement of approximately 9.26 million New Shares to institutional investors has raised approximately $11.1 million. Offer and also underwritten the shortfall from the Institutional Entitlement Offer, together amounting to approximately $82.9 million of New Shares to be issued to Kerogen. As a result, Kerogen’s shareholding in Lucas post the completion of the Entitlement Offer and Placement will be approximately 49.6% of fully paid ordinary Lucas shares on issue. New Shares taken up under the Institutional Entitlement Offer are expected to be settled on June 26, 2013, and commence trading on ASX on June 27, 2013. 

Company Quote

0.015 +2.21%
23 Sep 2014