Wednesday 17th February 2021
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MWE announces the opening of a $2 million Share Purchase Plan
Marlborough Wine Estates Group Limited is pleased to announce the opening of a $2 million share purchase plan ("SPP") today.
Eligible New Zealand shareholders will receive their personalised application forms to apply for up to a maximum of NZ$50,000 of new shares per shareholder, at 25 cents per share. The issue price comprises a 56.7% discount on the five day volume weighted average price of MWE shares traded on the NZX during the last five trading days prior to the date of this announcement.
The SPP Offer Document will be sent to eligible shareholders today and can be found online at www.mweshareoffer.co.nz.
The funds raised from the SPP will be applied towards:
• Retaining higher inventory levels to meet expected future demand;
• Investment into marketing, particularly MWE’s online strategy; and
• International market expansion and development.
The key dates for the SPP offer are as follows:
Record Date - Tuesday, 16 February 2021
SPP Offer Opens - Wednesday, 17 February 2021
SPP Offer Closes - Friday, 5 March 2021
Allotment of Shares - Friday, 12 March 2021
Commencement of trading of shares on NZX - Friday, 12 March 2021
Please see the links below for details:
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