HGH
24/08/2022 08:31
OFFER
PRICE SENSITIVE
REL: 0831 HRS Heartland Group Holdings Limited
OFFER: HGH: Heartland $130 million placement fully subscribed
Not for release to US wire services or distribution in the United States.
NZX/ASX release
24 August 2022
Heartland's $130 million placement fully subscribed
Heartland Group Holdings Limited (NZX/ASX:HGH) (Heartland) is pleased to
announce that it has successfully completed the bookbuild for the fully
underwritten NZ$130 million placement (Placement) of the NZ$200 million
equity raising announced on 23 August 2022. The Placement was strongly
supported by existing institutional and retail shareholders and also
attracted significant bids from other institutional and retail investors who
Heartland welcomes as shareholders.
The Placement was fully subscribed at the fixed price of NZ$1.80 per share.
This price represents a discount of 12.8% to the ex-dividend adjusted last
close price of NZ$2.0650 per share on 22 August 2022, and a discount of 13.7%
to the 5-day volume weighted average ex-dividend adjusted price (VWAP) of
NZ$2.0851 (up to and including 22 August 2022).
Heartland undertook the Placement with the key objective of treating existing
shareholders in eligible jurisdictions fairly. All existing eligible
shareholders who bid for their pro-rata allocation of the Placement were
allocated at least that amount of new shares.
Settlement of the Placement is expected to occur on 26 August 2022 for the
ASX and on 29 August 2022 for the NZX, with the allotment of all shares and
the commencement of trading on the NZX and ASX expected to occur on 29 August
2022. The new shares to be issued under the Placement will rank equally in
all respects with Heartland's existing ordinary shares on issue, but will not
be eligible for the FY2022 final dividend with a record date of 26 August
2022, and will not entitle the investor to participate in the SPP which had a
record date of 22 August 2022.
As announced on 23 August 2022, Heartland is also undertaking a
non-underwritten NZ$70 million share purchase plan (SPP), with the ability
for Heartland to accept oversubscriptions at its discretion. A SPP offer
document will be sent to eligible shareholders on 25 August 2022 and will
also be available at www.heartlandshareoffer.co.nz from that date. All
eligible shareholders are encouraged to visit that website and apply online.
Key dates for the SPP are set out below.
Key SPP dates
Record Date: 7.00pm NZST/5.00pm AEST Monday 22 August 2022
Expected dispatch of SPP offer document: Thursday 25 August 2022
SPP opens: Thursday 25 August 2022
SPP closes: 7.00pm NZST/5.00pm AEST Monday 5 September 2022
Announcement of results of SPP: Thursday 8 September 2022
Settlement and allotment of shares issued under the SPP offer: Friday 9
September 2022
Trading of SPP shares commences on NZX: Friday 9 September 2022
Trading of SPP shares commences on ASX: Monday 12 September 2022
- ENDS -