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Marlborough Wine Estates Group Limited (NZX: MWE) MWE Raises $1.34M Through SPP and Share Placement

Monday 8th March 2021

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The board of MWE is pleased to announce that it has raised $508,028.77 through its Share Purchase Plan (SPP) which closed at 5pm on Friday March 5. The SPP was well supported by MWE’s New Zealand based shareholders who were eligible to apply for up to $15,000 of shares at a price of 25 cents a share.

In addition, the company has raised a further $832,500 through the placement of 3,330,000 shares at 25 cents a share to a range of New Zealand investors following the close of the SPP, bringing the total capital raised to $1,340,528.77.

Allotment of the new shares from the SPP and placement will take place on or before Friday March 12.

MWE chairman Min Jia said the company was delighted with the result which will widen MWE’s shareholding base and should lead to additional liquidity in trading in the company’s shares on the NZX.

Funds raised from the SPP and placement will be used to:

• Retain higher inventory levels to meet expected future demand;

• Investment into marketing, particularly MWE’s online strategy; and

• International market expansion and development.

Please see the link below for details:

MWE Raises $1.34M Through SPP and Share Placement

Source: Marlborough Wine Estates Group Limited

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