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PRO-PAC PACKAGING LIMITED — Capital/Financing Update 2018
May 3, 2018
65602_rns_2018-05-03_36ed95b4-8a9d-41e4-bbdd-2f4c36d5accc.pdf
Capital/Financing Update
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4 May 2018
Sale of Advent shares to new and existing shareholders
Pro-Pac Packaging Limited (ASX code: PPG) ( PPG, the Company ) is pleased to announce that following the offer of the 59,632,418 shares at $0.38c in PPG held by Advent Partners Pty Ltd ( Advent ) to new and existing investors as foreshadowed in PPG's announcement of 18 April 2018, these shares have been acquired by retail investors, institutions and by Bennamon Pty Limited ( Bennamon) .
Bell Potter Securities Limited acted as broker to the offer and conducted a bookbuild to facilitate the transaction which was successfully completed yesterday after market close.
PPG Chairman, Ahmed Fahour, provided the following comment in relation to the Transaction:
“The buying support from retail investors, institutions and from Bennamon represents a further positive step in the renewal of PPG’s share register. We are pleased with the positive feedback we have received from the market in relation to PPG's revitalised strategy. The PPG Board and senior management look forward to executing on the next phase of growth for the company for the benefit of all shareholders.”
Enquiries
For further information please contact:
Grant Harrod Mark Saus CEO - Pro-Pac Packaging Limited CFO – Pro-Pac Packaging Limited Tel (02) 8781 0500 Tel (02) 8781 0500
About PPG
Pro-Pac Packaging Limited (PPG) is a diversified manufacturing and distribution company, providing innovative, industrial & flexible and rigid packaging solutions for a broad group of blue chip clients. PPG is headquartered in Sydney with a national footprint including operations in all mainland states. PPG’s securities are listed and quoted on the ASX. For further information on PPG visit www.ppgaust.com.au.
Suite 2.02, 657 Pacific Highway, St. Leonards, NSW, 2065 PO Box 228, St. Leonards, NSW, 1590 Tel: (02) 8781 0500 Fax: (02) 8781 0599 Web: www.ppgaust.com.au