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ARENA REIT. — Capital/Financing Update 2017
Jul 30, 2017
64418_rns_2017-07-30_2d534cec-6880-4ad6-b497-ef28bbaec371.pdf
Capital/Financing Update
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31 JULY 2017
COMPLETION OF INSTITUTIONAL PLACEMENT
Arena REIT has today announced the successful completion of the $55 million fully-underwritten institutional placement announced to the ASX on Friday 28 July 2017.
The institutional placement was priced at $2.03 per security, representing a 2.9% discount to the closing price of $2.09 per security on 27 July 2017 and a 3.6% discount to the 5-day VWAP to 27 July 2017 of $2.105 per security. Under the placement, approximately 27.1 million new stapled securities will be issued to participating institutional investors.
Settlement of the placement will occur on Wednesday 2 August 2017 and the new stapled securities issued under the institutional placement will be allotted and commence trading on Thursday 3 August 2017.
Accordingly, the trading halt is lifted and Arena REIT stapled securities will recommence trading on the ASX today.
Security Purchase Plan (SPP)
As announced on 28 July 2017, Arena is offering a non-underwritten SPP to eligible securityholders in Australia and New Zealand at $2.03 per security, which is the same price as the institutional placement. The total amount to be raised is $5 million, with the capacity to accept a further $5 million in oversubscriptions. Eligible securityholders who were registered as Arena REIT securityholders as at 7.00pm on 27 July 2017 will be invited to subscribe for up to a maximum of $15,000 additional new stapled securities per securityholder, free of brokerage and transaction costs.
The SPP is subject to the terms set out in the SPP booklet, which will be released to the Australian Securities Exchange and sent to eligible securityholders on or about Monday 7 August 2017.
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For further information, please contact: Bryce Mitchelson Managing Director +61 3 9093 9000 [email protected]
Susie McPherson
Head of Investor Relations and Marketing +61 3 9093 9000 [email protected]
Arena REIT Limited (ACN 602 365 186) Arena REIT Management Limited (ACN 600 069 761 AFSL No. 465754) as responsible entity of Arena REIT No. 1 (ARSN 106 891 641) and Arena REIT No. 2 (ARSN 101 067 878) Level 5, 41 Exhibition Street Locked Bag 32002 Collins Street East Melbourne VIC 3000 Melbourne VIC 8003 www.arena.com.au [email protected]
Locked Bag 32002 Collins Street East Melbourne VIC 8003 [email protected]
T +61 3 9093 9000 Freecall 1800 008 494 F +61 3 9093 9093