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MYSTATE LIMITED — Capital/Financing Update 2020
Mar 29, 2020
65395_rns_2020-03-29_bdfdce7c-bddf-4ac7-bdb3-cec0a85db708.pdf
Capital/Financing Update
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ASX release
30 March 2020
$7m DRP Underwrite Will Not Proceed
Monday, 30 March 2020 : MyState Limited (ASX: MYS) ( Company ) advises that the previously announced $7m partial DRP underwrite will not proceed. Bell Potter Securities Limited ABN 25 006 390 772 ("Underwriter") has notified the Company that it has decided to exercise its termination rights under the underwriting agreement dated 28 February 2020 ("Underwriting Agreement").
MyState Managing Director and CEO, Melos Sulicich said ‘Following significant market volatility, the Underwriter has decided to terminate the Underwriting Agreement.
We are currently experiencing extraordinary market conditions and whilst the partial DRP underwrite will no longer proceed, MyState remains well capitalised and has other capital options at its disposal.’
Mr Sulicich confirmed that the Dividend Reinvestment Plan remains active for the Company’s 2020 Interim Dividend which will be paid to shareholders as previously advised on Thursday 2 April 2020.
Authorised
Melos Sulicich Managing Director and CEO
About MyState Limited
Registered Office: 137 Harrington Street, Hobart 7000
MyState Limited is the ASX-listed (MYS) non-operating holding company of the diversified financial services Group consisting of MyState Bank and TPT Wealth, a trustee and wealth management company. MyState Bank is regulated by the Australian Prudential Regulatory Authority. MyState Bank and TPT Wealth hold Australian Financial Services Licences issued by the Australian Securities and Investments Commission.
Media Enquiries
Ashley Rambukwella, Financial & Corporate Relations, 0407 231 282 and [email protected]
Investor Enquiries
Gary Dickson, Chief Financial Officer, 0417 378 847 and [email protected]
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