NCR AMA's Carl Bizon
Published on October 15th 2021 in

AMA Group successfully completes retail entitlement offer

AMA Group has announced the successful completion of the retail component of its fully underwritten accelerated 1 for 2.80 pro rata non-renounceable entitlement offer that was announced on 10 September 2021.

The retail component of the entitlement offer, which closed at 5.00pm on Thursday, 30 September 2021, raised gross proceeds of approximately $47 million at the offer price of $0.375 per share. Together with the institutional component of the Entitlement Offer, the total amount raised under the entitlement offer is approximately $100 million.

The entitlement offer was well supported by eligible retail shareholders, with valid applications received totalling approximately 62.9 million new fully paid ordinary shares, representing a take-up rate of approximately 50%. In addition, eligible retail shareholders applied for an additional 14.6 million new shares in excess of their entitlements, taking the overall retail take-up rate to approximately 62%.

Approximately 47.2 million new shares, representing the entitlements of ineligible foreign shareholders and entitlements not taken up by eligible retail shareholders, will be allocated to sub-underwriters of the retail entitlement offer.

New Shares issued under the retail entitlement offer are expected to be allotted on 7 October 2021 and to commence trading on the ASX on 8 October 2021, and they will rank equally with existing AMA Group ordinary shares. Holding statements for new shares issued under the retail entitlement offer will be despatched on 8 October 2021.

AMA Group CEO, Carl Bizon said: “We are happy to announce the successful completion of the Retail Entitlement Offer which is the final step of the capital raising AMA Group announced on 10 September 2021. It was important to us that our retail shareholders were able to participate, and we are pleased with the level of support shown for the business. We continue to look forward to the future in anticipation of the impacts of COVID-19 lockdown restrictions easing, and the continued execution of our strategy.”

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