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APA GROUP — Capital/Financing Update 2011
Jun 23, 2011
64398_rns_2011-06-23_e041e0cc-9d88-45ee-b6bc-323b0837b0b0.pdf
Capital/Financing Update
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ASX RELEASE
24 June 2011
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 successfully completes $300m capital raising
Yours sincerely
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Mark Knapman Company Secretary
ASX RELEASE
24 June 2011
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NOT FOR RELEASE OR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
APA successfully completes $300 m capital raising
Australia’s largest gas infrastructure business APA Group (ASX:APA) today announced the successful completion of its $300 million institutional placement.
Proceeds of the institutional placement will be used to fund the acquisition of the 80 MW Emu Downs Wind Farm and development rights for an adjacent 130 MW development site (collectively “Emu Downs”) and to partially fund the organic expansion of its energy infrastructure portfolio across Australia over the period to June 2012.
The placement was significantly oversubscribed with strong demand from existing institutional shareholders and new investors from Australia and around the globe.
APA Managing Director, Mick McCormack said: “It is very pleasing to see the strong support for APA’s business model and growth strategy reflected in the success of today’s placement, particularly as it is the first opportunity in over four years for institutional investors to participate in an APA equity raising.
“The Emu Downs acquisition is consistent with APA’s strategy of leveraging our gas infrastructure portfolio to develop related energy projects for our customers.”
As a result of the placement, APA will issue approximately 78 million new APA securities, a 14% increase in APA’s issued securities. The securities issued under the placement will not be entitled to the FY11 final distribution, but will otherwise rank equally with existing securities from the date of issue. Settlement is scheduled to take place on Wednesday, 29 June 2011, with allotment and trading of new securities expected to occur on ASX Limited (ASX) on Thursday, 30 June 2011.
The issue of new securities is within the 15% placement capacity available under the Listing Rules, for which securityholder approval is not required.
Now that the placement has been finalised, APA anticipates that the trading halt in relation to its securities will be lifted today.
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ASX RELEASE
24 June 2011
For further information please contact:
Investor enquiries: Media enquiries: Chris Kotsaris Matthew Horan Investor Relations APA Group Cato Counsel Telephone: (02) 9693 0049 Telephone: (02) 9212 4666 Mob: 0402 060 508 Mob: 0403 934 958 Email: [email protected] Email: [email protected]
About APA Group (APA)
APA is Australia’s largest natural gas infrastructure business, owning and/or operating more than $8 billion of gas transmission and distribution, and energy infrastructure assets. Its pipelines and energy infrastructure assets span every state and territory on mainland Australia, delivering more than 50% of the nation’s gas usage. Unique amongst its peers, APA has direct management and operational control over its assets and the majority of its investments. APA also holds minority interests in energy infrastructure enterprises including Envestra, SEA Gas Pipeline, Hastings Diversified Utilities Fund and Energy Infrastructure Investments.
For more information visit APA’s website, www.apa.com.au
ASX RELEASE
24 June 2011
IMPORTANT INFORMATION
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
This announcement has been prepared for publication in Australia and may not be distributed or released in the United States or to "U.S. persons" (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”)) (“U.S. Persons”). This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or to any person that is, or is acting for the account or benefit of, a U.S. Person. The stapled securities described in this announcement have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in the United States or to any U.S. Persons absent registration except in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and any other applicable securities laws.
This announcement may contain certain statements and projections provided by or on behalf of APA Group with respect to anticipated future undertakings. Forward looking words such as, “expect”, “should”, “could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” and other similar expressions are intended to identify forward-looking statements within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance on, future earnings, distributions and financial position and performance are also forward-looking statements. Forward-looking statements, opinions and estimates provided in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements, including projections, forecasts, guidance on future earnings and estimates, are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements.
This announcement is for information purposes only and is not a financial product or investment advice or a recommendation to acquire APA Group stapled securities (nor does it or will it form any part of any contract to acquire APA Group stapled securities). It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction.