Thursday 11th November 2021
|Text too small?|
Arvida Group Limited (NZX: ARV ) (Arvida) is pleased to announce the successful completion of the shortfall bookbuild component of its $175 million fully underwritten 1 for 6.57 pro rata renounceable rights offer (Rights Offer).
The clearing price under the shortfall bookbuild was $1.96 per new share, a premium of $0.11 per new share over the application price of $1.85 under the Rights Offer. Therefore eligible shareholders who elected not to take up their full entitlements and those who were ineligible shareholders under the terms of the Rights Offer will receive $0.11 for each new share not taken up by them.
Payment of the premium achieved is expected to be made on 22 November 2021. Settlement and allotment of new shares taken up under the shortfall bookbuild is expected to occur on 15 November 2021. The new shares issued under the Rights Offer will rank equally with Arvida’s existing shares.
A total of $330 million was raised under the Rights Offer and the placement completed on 18 October 2021 (Placement) in the capital raising announced by Arvida on 15 October 2021 to partly fund the acquisition of Arena Living’s six retirement villages. Both the Placement and Rights Offer were fully underwritten by Forsyth Barr Group Limited and Jarden Partners Limited.
Please see the link below for details
No comments yet
GSH Appointment of new Chairman
Greenfern secures agreement to supply medicinal cannabis
Rua on track to export to Germany by year end
HMY SECURES ADDITIONAL NZ$215M FACILITY TO SUPPORT GROWTH
Seeka releases Sustainability Report
NZL - Completion of Retail Offer
28th June 2022 Morning Report
Green Cross Health Limited 2022 Annual Report / NOM
Me Today completes Rights Issue
Channel confirms timing of Board Chair succession