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INGENIA COMMUNITIES GROUP — Capital/Financing Update 2020
Jun 2, 2020
65125_rns_2020-06-02_c335299a-6b55-47bb-a4e8-53c9e922ea8f.pdf
Capital/Financing Update
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3 June 2020
Ingenia announces results of Security Purchase Plan Offer
Ingenia Communities Group (ASX: INA) has today announced the result of its Security Purchase Plan (SPP) offer. Given the significant demand from Eligible Security Holders, the SPP was increased to $28 million, above the original target of $25 million.
Approximately 8.1 million new fully paid securities will be issued to successful applicants on Wednesday 10 June 2020 at an issue price of $3.45 per security. The issue price is equivalent to the issue price of securities under the recent Placement undertaken by Ingenia in conjunction with the SPP.
Simon Owen, CEO of Ingenia Communities said he was pleased to see strong take up from the Group’s investors, which had resulted in the Group increasing the scale of the SPP.
“The $27.9 million in capital raised through the SPP will further strengthen the Group’s balance sheet and provide additional funding capacity.”
“With two acquisitions announced on 27 May and further assets under assessment, we are confident of continuing to deploy capital as we identify attractive investment opportunities.”
Over 30% of Eligible Security Holders participated in the Offer, which will raise $27.9 million. There was no scale back applied to valid applications. Trading of the SPP securities is expected to commence on 11 June 2020. Holding statements will be dispatched to successful applicants on 15 June 2020. Refunds for late and invalid applications will be made from 15 June 2020.
Securities issued under the SPP will rank equally with existing fully paid Ingenia Communities Group securities from their issue date.
Approved for lodgment by the Company Secretary.
ENDS
For further information please contact: Donna Byrne General Manager Investor Relations P 02 8263 0507 M 0401 711 542
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 T 1300 132 946 NSW 2000, Australia E [email protected]