Sharechat Logo

EROAD opens NZ$8 million Share Purchase Plan

Wednesday 23rd September 2020

Text too small?

Transportation technology business EROAD Limited (NZX/ASX: ERD) (“EROAD”) announced today the opening of its NZ$8 million non-underwritten share purchase plan ("SPP"). The SPP is part of EROAD’s capital raising announced on 17 September 2020 of NZ$50 million. The capital raise included a NZ$42 million fully underwritten placement at a price of NZ$3.90 per share.

Eligible EROAD shareholders can apply for a maximum of NZ$50,000 of new shares per shareholder. The price payable under the SPP will be the lower of the price paid by investors in the placement (NZ$3.90 per share) or a 2.5% discount to the five day volume weighted average price of EROAD shares traded on the NZX during the five trading days up to, and including, the SPP closing date.

See links below for more details:

SPP Offer Open Announcement

SPP Offer Document

SPP Application Form

Source: Transportation technology business EROAD Limited




  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Synlait Milk Limited published its Annual Report
Infratil announces offer to acquire stake in Australian diagnostic imaging business, Qscan
Kathmandu Holdings Limited announces Annual Report 2020
Genesis Energy announced its FY21 Q1 Performance Report
Vector announces its operational performance for the 3 months
Abano Scheme Meeting Materials
Westpac and Afterpay announce partnership
NWF agrees a new Variable Volume Fixed Price Agreement
Takeovers Panel states no objection to Metlifecare scheme
Sichuan Province Trial Confirms Truscreen Technology

IRG See IRG research reports