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INGENIA COMMUNITIES GROUP — Capital/Financing Update 2016
Jun 14, 2016
65125_rns_2016-06-14_c024321f-2d25-4ef4-8297-9e614ec52557.pdf
Capital/Financing Update
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----- Start of picture text ----- ASX / Media Release----- End of picture text -----
15 June 2016
Ingenia successfully completes $60 million Institutional Placement
Highlights
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$60 million raised at $2.80 per new security
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Strong investor demand with the placement significantly oversubscribed
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Capital raised for four quality lifestyle park acquisitions
Ingenia Communities Group (ASX: INA) today announced the successful completion of a Placement of approximately 21.4 million new securities at an issue price of $2.80 cents per new security to sophisticated and wholesale investors. The Placement was significantly oversubscribed with strong demand from both domestic and offshore investors.
The funds raised will be used to acquire four additional Lifestyle Parks, including three announced acquisitions which are under conditional contract and one which is in advanced negotiations. The acquisitions are expected to complete in the first quarter of the 2017 financial year (subject to the finalisation of due diligence and Ingenia Board approval).
Ingenia Chief Executive Officer, Simon Owen, said he was pleased with the high level of support for the raising which saw strong demand from existing investors as well as demand from new investors, allowing Ingenia to broaden its investor base.
Ingenia will also undertake a non-underwritten Security Purchase Plan at the Offer Price of $2.80. The SPP will be open to eligible Securityholders in Australia and New Zealand. Details of the Offer will be distributed directly to eligible Securityholders.
Level 9, 115 Pitt St, Sydney NSW 2000, Australia
T 1300 132 946 E [email protected]
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“The success of the placement has demonstrated investor support for our strategy which has seen us continue to build our presence in key metropolitan and coastal markets. Included in the acquisitions is the last available A-Grade freehold caravan park in Sydney which builds our footprint and development scale in this tightly held market,” Mr Owen said.
“These acquisitions capitalise on our established pipeline which continues to identify acquisitions providing attractive returns,” Mr Owen said.
Securities issued under the Placement and non-underwritten SPP will rank equally with existing fully paid ordinary securities and will be entitled to the FY16 final distribution, of 4.9 cents per security, which is payable in September 2016.
Moelis Australia Advisory Pty. Ltd., Morgans Corporate Limited and Petra Capital Pty Ltd acted as Joint Lead Managers and Joint Underwriters to the Placement.
Ingenia expects the trading halt implemented on Tuesday 14 June to be lifted at market open today.
ENDS
For further information please contact Simon Owen Donna Byrne Chief Executive Officer Group Investor Relations Manager P 02 8263 0501 P 02 8263 0507 M 0412 389 339 M 0401 711 542 [email protected] [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 9, 115 Pitt St, Sydney NSW 2000, Australia
T 1300 132 946 E [email protected]
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