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Peet Ltd Completes Institutional Placements


Wednesday, 10 Apr 2013 08:02pm EDT 

Peet Ltd announced that it has completed the $116 million institutional component of the equity raising to facilitate the acquisition of CIC Australia Limited, comprising the $50 million Unconditional Placement and the $66 million Conditional Placement (the Institutional Placements), at a price of $1.15 per share, as announced to the market on April 10, 2013. Approximately 43.6 million shares issued under the Unconditional Placement will settle on April 16, 2013, with allotment and trading to occur on April 17, 2013. A further 57.5 million shares, to be issued under the Conditional Placement, will settle three business days after Peet announces that its takeover offer for CIC has become unconditional (provided that the Placement Agreement has not been terminated by the underwriter and no prescribed occurrences have occurred). New shares will rank equally with Peet’s existing shares. The Institutional Placements were fully underwritten by Merrill Lynch. 

Company Quote

1.05
0.015 +1.45%
24 Dec 2014