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ARN MEDIA LIMITED — Capital/Financing Update 2021
Nov 17, 2021
64267_rns_2021-11-17_f89a46d0-48b6-40e6-b3b3-19656efcc82a.pdf
Capital/Financing Update
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MARKET ANNOUNCEMENT
Update on potential divestment of Luxury Escapes
SYDNEY, 18 November 2021 – HT&E Limited [ASX: HT1] today provides the following update on the potential sale of its shares in Lux Group Limited (“Luxury Escapes”).
As previously announced on 6 September 2021, Auctus Asset Management Pty Ltd (“AVC”) agreed with various shareholders in Luxury Escapes, to purchase their shares and also invest primary capital in Luxury Escapes via a Convertible Note to support future growth. The agreement was conditional on various matters, including AVC raising a minimum level of funding. Should the transaction with AVC proceed, HT&E could receive proceeds of up to $23.2 million.
AVC has today announced that it has been granted an extension to the fund-raising cut-off date to 17 December 2021. AVC also announced that to date it has raised approximately $45 million and will continue to progress with the capital raising over the coming 2 to 4 weeks with a view to closing out the full proposed raising amount of A$90 million (excluding fees).
Market releases from AVC regarding this matter are available on their investor relations page at: https://auctusinvest.com/shareholder-centre/
ENDS
For further information, please contact:
Peter Brookes, Citadel-MAGNUS, +61 407 911 389, [email protected]
Helen McCombie, Citadel-MAGNUS, +61 411 756 248, [email protected]
HTandE.com.au / 3 Byfield Street, Macquarie Park, NSW, 2113 / T : +61 2 8899 9900 / ABN: 95 008 637 648