Further to the three acquisition announcements made by NZX over the past month, NZX is providing details of its capital raising programme to fund these transactions.
NZX announced the conditional acquisition of the energy and related assets of M-co and the acquisition of Country-Wide Publications (CPL) in April. This afternoon NZX announced a potential acquisition of a 50.1% stake in NSX Limited, which is subject to NSX shareholder vote.
NZX is raising up to $20.55 million via a pro-rata renounceable rights issue and has signed a bank facility with ASB Bank.
Details of the NZX Rights Issue:
- One new share for every five shares held
- $4 per new share
- Record date is 5.00pm, Tuesday 26 May 2009
- Rights trading commences at market open on Wednesday 27 May 2009
- Rights trading ends at market close on Monday 15 June 2009
- Completed Letters of Entitlement must be returned by 5.00pm, Wednesday 17 June
- 2009.
A Letter of Entitlement and an Offer Document will be distributed to all NZX
Shareholders on Friday 29 May 2009.