March 25, 2020 / 1:03 AM / 6 days ago

BRIEF-Cochlear Expects Significant Negative Impact From Covid-19

March 25 (Reuters) - Cochlear Ltd:

* EXPECTS A SIGNIFICANT NEGATIVE IMPACT FROM COVID-19 FOR AN UNCERTAIN PERIOD OF TIME

* ANNOUNCES NON-UNDERWRITTEN SHARE PURCHASE PLAN TO RAISE UP TO A$50 MILLION

* ANNOUNCES FULLY UNDERWRITTEN A$800 MILLION INSTITUTIONAL PLACEMENT

* PLACEMENT TO BE CONDUCTED AT A$140.00 PER NEW SHARE; TO RESULT IN ABOUT 5.7 MILLION NEW SHARES BEING ISSUED

* COCHLEAR SAYS OFFER INCLUDES SUSPENSION OF DIVIDEND UNTIL TRADING CONDITIONS IMPROVE AFTER PAYMENT OF 1H20 DIVIDEND ON APRIL 17 Source text for Eikon: Further company coverage:

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