AI assistant
INGENIA COMMUNITIES GROUP — Capital/Financing Update 2015
Sep 9, 2015
65125_rns_2015-09-09_9c7a1df0-8dfc-44eb-adf6-7f56d6e1bc89.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [595 x 141] intentionally omitted <==
----- Start of picture text ----- ASX / Media Release----- End of picture text -----
10 September 2015
Ingenia announces placement of Distribution Reinvestment Plan Participation Shortfall
Ingenia Communities Group (ASX: INA) advises that the Group has raised $4.4 million through the placement of the Distribution Reinvestment Plan (DRP) participation shortfall.
As announced on 3 September 2015, the Group received election notices representing 30% of the Group’s Register, to participate in the DRP. Ingenia has now placed an additional 10.1 million stapled securities with existing investors, being equivalent to those securities not taken up by investors under the DRP.
The Placement will raise a further $4.4 million. The securities will be issued at the DRP issue price of 43 cents per security (representing a 2% discount to the adjusted VWAP in the five business days up to and including 1 September 2015).
Combined with the proceeds of the DRP, the placement provides $6.2 million for reinvestment into the Group’s Lifestyle Parks business. Subsequent to finalising due diligence and Board approval, the funds will be used to complete the previously announced $3.3 million acquisition of a 7.1 hectare site adjacent to the Group’s recently acquired Active Lifestyle Estate at Bethania, Brisbane.
The Placement securities will be allotted on 16 September 2015, in line with the issue of securities in the Distribution Reinvestment Plan and the payment of the Group’s June 2015 distribution.
ENDS
For further information please contact Donna Byrne Group Investor Relations Manager P 02 8263 0507 M 0401 711 542 [email protected]
Ingenia Communities Holdings Limited (ACN 154 444 925), Ingenia Communities Fund (ASRN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410). The Responsible Entity for each scheme is Ingenia Communities RE Limited (ACN 154 464 990) (AFSL415862).
Level 5, 151 Castlereagh St, T 1300 132 946 Sydney NSW 2000, Australia E [email protected]