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APA GROUP — Capital/Financing Update 2009
Feb 9, 2009
64398_rns_2009-02-09_2d2a4d71-7349-4558-9cc0-9023487f4c3b.pdf
Capital/Financing Update
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ASX RELEASE
10 February 2009
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:
- APA Group increases its interest in Envestra
Yours sincerely
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Mark Knapman
Company Secretary
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10 February 2009
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ASX RELEASE
APA GROUP INCREASES ITS INTEREST IN ENVESTRA
APA Group (APA) has increased its interest in Envestra Limited by 11.5% to 30.6% through participation in and partly underwriting Envestra’s rights issue, for a total cost of $64.4 million.
APA took up its entitlement under the issue of $21.2 million. APA has also taken up the shortfall of the Envestra rights issue pursuant to its underwriting role for $43.2 million, net of underwriting fees. As a result, APA’s interest in Envestra has increased from 19.1% to 30.6%.
APA’s Managing Director, Mr Mick McCormack, said “Envestra’s capital raising has provided us an excellent opportunity to increase our interest at an attractive price. Owning and operating gas infrastructure is part of our core strategy and we are comfortable holding a 30.6% interest in Envestra while continuing to provide asset management and operation services under our long term arrangements with the gas distributor.”
For further information please contact:
Chris Kotsaris, Investor Relations APA Group Telephone: (02) 9693 0049 or Mob: 0402 060 508 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 almost 12,000 km of natural gas pipeline infrastructure, over 2,300 km of gas distribution networks in south east Queensland.
APA manages and operates all its assets and also provides management and operation services to gas distribution and transmission company Envestra and other third parties.
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