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NOUMI LIMITED — Capital/Financing Update 2013
Oct 20, 2013
65435_rns_2013-10-20_fcd2107d-a79a-4b9d-82cb-c73af0a38ba2.pdf
Capital/Financing Update
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Freedom Foods Group Limited ABN 41 002 814 235 80 Box Road Taren Point NSW 2229
21[st] October 2013
Company Announcements Office ASX Limited Level 4, 20 Bridge Street Sydney NSW 2000
Freedom Foods Group Limited Entitlement Offer Closes with Significant Oversubscription
Freedom Foods Group Limited (ASX Code: FNP)(the Company ) is pleased to advise that its 1 for 89.4 non-renounceable entitlement offer to all eligible shareholders ( Entitlement Offer ), to raise $3 million, has closed with significant oversubscription.
The Company received applications from eligible shareholders for $6.53 million, a 118% oversubscription amount on the $3 million Entitlement Offer. Shares not subscribed for under the Entitlement Offer represented 97,919 Shares ($205,630), which were subscribed for through oversubscription monies.
The Entitlement Offer raised approximately $3 million from the issue of new FNP ordinary shares ( New Shares ) at an offer price of $2.10 per New Share. Approximately 1.4 million New Shares will be issued to eligible shareholders.
Mr. Rory Macleod, Managing Director, said “In conjunction with the $27m Placement conducted in September, the total capital raising of $30 million was significantly oversubscribed with strong demand from a broad range of high quality institutional investors and existing shareholders. We are extremely pleased to have received such strong support from both new and existing shareholders. We appreciate this external endorsement of Freedom Foods Group ongoing performance and strategy”.
The proceeds of the Placement and Entitlement Offer will be used to fund the Company’s growth strategy including acceleration of capital projects within Freedom Foods and Pactum Australia, new product initiatives, acceleration and expansion of international sales activities and additional working capital requirements.
The New Shares are scheduled to be issued on 24th October 2013 and commencement of trading on the ASX on 25[th] October 2013.
For further information, please contact:
Rory J F Macleod Managing Director
Freedom Foods Group Limited
Tel: +61 2 9526 2555