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APN Property Group Ltd Announces 1 For 5 Non-Renounceable Entitlement Offer And Placement

Monday, 11 Nov 2013 05:21pm EST 

APN Property Group Ltd announced a 1 for 5 non-renounceable pro rata entitlement offer of ordinary shares in APN at an Offer Price of $0.25 per New Share (Entitlement Offer). The Entitlement Offer will raise approximately $8.1 million and follows a conditional placement of 32.0 million shares at the same price to raise approximately $8.0 million (Placement). The Entitlement Offer and Placement have been fully underwritten by Macquarie Capital. The Entitlement Offer is supported by Holus Nominees Pty Ltd (being an entity associated with me) (Holus) and Holus will partly sub-underwrite the Entitlement Offer. APN intends to use the proceeds of the Entitlement Offer and Placement to fund a $12.5 million co-investment in a new ASX listed A-REIT to be known as Industria REIT (Industria). The Entitlement Offer entitles Eligible Shareholders to subscribe for one New Share for every five Shares held at the Record Date of 7.00pm (AEDST) on November 6, 2013 (Entitlement). 

Company Quote

0.01 +2.90%
24 Dec 2014