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WORLEY LIMITED — Capital/Financing Update 2017
Oct 10, 2017
66073_rns_2017-10-10_e9d67686-0fec-4079-9d5c-b552b45c3eb9.pdf
Capital/Financing Update
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Level 15, 141 Walker Street, North Sydney NSW 2060 Australia Telephone: +61 2 8923 6866 Facsimile: +61 2 8923 6877 www.worleyparsons.com WorleyParsons Limited ABN 17 096 090 158
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11 October 2017
ASX Media Release
WORLEYPARSONS LIMITED (ASX: WOR)
WorleyParsons successfully completes Institutional Entitlement Offer
WorleyParsons Limited (" WorleyParsons ") is pleased to announce the successful completion of the institutional component (" Institutional Entitlement Offer ") of its 1 for 10 accelerated non-renounceable pro-rata entitlement offer (" Entitlement Offer ") announced to the Australian Securities Exchange (“ASX”) on Monday, 9 October 2017. The Entitlement Offer is being undertaken to fund the acquisition of AFW UK Oil & Gas Limited (“ AFW UK ”).
The Institutional Entitlement Offer raised approximately $253 million at $13.00 per share (“ Offer Price ”), and was very well supported by eligible institutional shareholders, who took up 98.4% of their entitlements. The bookbuild to cover the small institutional shortfall attracted extremely strong demand from both existing WorleyParsons shareholders and other institutional investors.
New shares issued under the Institutional Entitlement Offer (“ New Shares ”) will rank equally in all respects with existing shares. The New Shares issued under the Institutional Entitlement Offer will be allotted on Wednesday, 18 October 2017. It is expected that trading will commence on a normal settlement basis on the ASX on the same day.
WorleyParsons CEO Andrew Wood said "We are pleased with the extremely strong support for WorleyParsons’ acquisition of AFW UK demonstrated by the response shown by our institutional shareholders. . We believe this response is an endorsement of the compelling strategic rationale of the transaction.”
Commencement of the Retail Entitlement Offer
The retail component of the Entitlement Offer, which is fully underwritten, will raise a further $69 million (" Retail Entitlement Offer ").
The Retail Entitlement Offer will open on Monday, 16 October 2017, and close at 5:00pm (AEDT) on Wednesday, 25 October 2017.
Under the Retail Entitlement Offer, retail shareholders who hold shares in WorleyParsons as at 7:00pm (AEDT) on Wednesday, 11 October 2017 (“ Record Date ”) and have a registered address in Australia or New Zealand (“ Eligible Retail Shareholders ”) will have the opportunity to participate in the Retail Entitlement Offer at the same Offer Price (being $13.00) and offer ratio (being 1 for 10) as participants in the Institutional Entitlement Offer. The terms and conditions under which Eligible Retail Shareholders may apply are outlined in the Retail Entitlement Offer Booklet, which will be despatched to Eligible Retail Shareholders on Monday, 16 October 2017. Copies of the Retail Entitlement Offer Booklet will be available on the ASX website by Monday 16 October 2017.
Retail shareholders with a registered address outside Australia and New Zealand on the Record Date will be ineligible to participate in the Retail Entitlement Offer.
WorleyParsons expects its trading halt to be lifted and WorleyParsons shares to recommence trading from market open today.
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Key Dates of the Entitlement Offer
| Event | Date |
|---|---|
| Trading halt lifted / announcement of results of Institutional Entitlement Offer | Wednesday, 11 October 2017 |
| Record date under the Entitlement Offer | 7:00pmWednesday, 11 October 2017 |
| Retail offer booklet despatched and Retail Entitlement Offer opens | Monday, 16 October 2017 |
| Institutional settlement date | Tuesday, 17 October 2017 |
| Institutional allotment and trading date | Wednesday, 18 October 2017 |
| Retail Entitlement Offer closes | 5:00pmWednesday, 25 October 2017 |
| Retail allotment date | Thursday, 2 November 2017 |
| Retail trading date | Friday, 3 November 2017 |
Retail Investor Enquiries
For further information in regard to the Retail Entitlement Offer, please contact the WorleyParsons Offer Information Line on 1300 113 257 (within Australia) or +61 3 9415 4067 (outside of Australia) between 8:30am and 5:00pm (AEDT) Monday to Friday.
For further information, please contact:
Mark Trueman Director Planning & Investor Relations Ph: +61 2 8456 7256 www.worleyparsons.com [email protected]
About WorleyParsons: WorleyParsons delivers projects, provides expertise in engineering, procurement and construction and offers a wide range of consulting and advisory services. We cover the full lifecycle, from creating new assets to sustaining and enhancing operating assets, in the hydrocarbons, mineral, metals, chemicals and infrastructure sectors. Our resources and energy are focused on responding to and meeting the needs of our customers over the long term and thereby creating value for our shareholders.
WorleyParsons is listed on the Australian Securities Exchange [ASX:WOR]
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
This announcement nor any other documents relating to the offer of New Shares may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or solicitation of an offer to buy, any securities in the United States. The New Shares to be offered or sold in the Entitlement Offer have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended ( U.S. Securities Act ) or under the securities law of any state or other jurisdiction of the United States. The New Shares may not be offered or sold, directly or indirectly, in the United States, unless they have been registered under the U.S. Securities Act, or are offered and sold pursuant to an exemption from, or in a transaction no subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
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