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Moa Group Ltd announces one for two renounceable rights issue and completion of placement


Wednesday, 23 Jul 2014 10:35pm EDT 

Moa Group Ltd:Says that it has completed placement of NZ$500,000 of new ordinary shares to institutional and other eligible investors.Placement was finalised this morning and taken up by five experienced and/or professional investors and price was set at NZ$0.38 per share. Settlement of the placement will take place on July 29.Also says that it is undertaking a renounceable rights issue to raise up to NZ$5.25 mln.Under rights issue, eligible shareholders are entitled to subscribe for one new share for every two existing shares held on Aug. 4, at a price of NZ$0.33 per share.Eligible shareholders may also apply for oversubscriptions (i.e. shares in excess of their entitlement).Says it has already received commitments for NZ$3.57 mln, 68 pct. of total amount sought, including from participants in placement and certain existing shareholders in Moa.Subscriptions under rights issue must be lodged by Aug. 21.New shares will be allotted on Aug. 27. 

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19 Dec 2014