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APA GROUP — Capital/Financing Update 2007
Nov 29, 2007
64398_rns_2007-11-29_fb5fd909-0275-4ceb-a230-1ddd00df915b.pdf
Capital/Financing Update
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30 November 2007
MEDIA RELEASE
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30 November 2007
The Manager
Company Announcements Office Australian Securities Exchange 4[th] Floor, 20 Bridge Street Sydney NSW 2000
Electronic Lodgement
Dear Sir or Madam
Company Announcement
I attach the following announcement for release to the market:
- Security Purchase Plan (SPP) Results
Yours sincerely
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Austin James Company Secretary
30 November 2007
MEDIA RELEASE
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SECURITY PURCHASE PLAN (SPP) RESULTS
APA Group (APA) is pleased to announce that following completion of the SPP, APA issued 23,659,405 new securities to securityholders, raising approximately $85.0 million. APA now has 458,344,511 stapled securities on issue. Issue Price under the SPP was $3.5938 per security.
As stated, funds raised have been used to increase APA’s financial capacity and reduce the covenanted gearing ratio to approximately 71.5%.
New securities issued under the SPP will rank equally with existing securities and will be entitled to participate in the interim distribution payable for the half year ending 31 December 2007, expected to be paid in March 2008.
As previously advised, in determining the tax cost base for an APT unit and an APTIT unit, securityholders should consider allocating 25% of the Issue Price to an APT unit and 75% of the Issue Price to an APTIT unit.
For further information please contact: Mick McCormack, APA Group Telephone: (02) 9693 0000 Email: [email protected]
Joanne Collins, Gavin Anderson & Company Telephone: (02) 9552 8939 or Mb: 0423 029 932 Email: [email protected]
About APA Group (APA)
APA Group, comprised of Australian Pipeline Trust and APT Investment Trust, is the major ASX-listed energy transmission company in Australia with interests in more than 10,000 kms of natural gas pipeline infrastructure, over 2,300 kms of gas distribution networks in south east Queensland, Coal Seam Gas processing plants, gas fired power stations, gas storage facilities and two high voltage direct current interconnector systems. APA manages and operates all it’s assets and also provides management and operations services to gas distribution and transmission company Envestra (which owns 19,100 km of natural gas distribution networks and 1,029 km of natural gas transmission pipelines). It also holds a 17.2 percent stake in Envestra and a one-third interest in the SEAGas pipeline. The Group has a varied and quality customer base including AGL Energy, Cooper Eromanga Basin Producers, Xstrata, Newmont, CS Energy, BHP Billiton, Zinifex, Incitec Pivot, Origin, RioTinto, Nickel West, Synergy and Verve Energy.