Is that an educated guess Anna?
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If the capital raising plans are unfavourable they will be announced on Friday after the market closes. If there is 'good news' (less capital sought than expected on favourable terms), it will be announced on Monday morning before the market opens. That is usually how these things work ;-P
SNOOPY
Thanks for the insight Snoopy, ......I'll be hoping for Monday then.
I'd say it 's tomorrow.......
PGG Wrightson's big day beckons
Duncan Bridgeman | Friday November 20 2009 - 08:00am
PGG Wrightson will announce its capital raising plan today, investment banking sources told NBR last night.
At the annual meeting last month the company had said an announcement would be in early November.
The company is tied to a new banking facility that requires payment of $200 million by March next year after the balance sheet was torn apart by writedowns relating to Silver Fern Farms and its investment in subsidiary company NZ Farming Systems Uruguay.
The shares – worth nearly $3 a year ago – closed last night at 69c.
Market expectations are that the company needs to raise anywhere between $120 million and $150 million as well as the $36 million from a 13% share sale to Chinese company Agria.
The structure of the capital raising could include a discounted rights issue, share purchase plan and a delayed performance fee from New Zealand Farming Systems Uruguay.
A boardroom clean out is expected to follow the capital raising.
9 for 8 at 45c. looking at raising 180 mil. Well that pays off all the bills. Will be taking up my allocation.
45 cents?is that true or guess?