HELLABY HOLDINGS LIMITED - NZX / Media Release: 2 May 2013
Hellaby announces successful completion of Share Purchase Plan
Hellaby Holdings Limited (Hellaby) today announces the successful completion
of its Share Purchase Plan (SPP) Offer.
Following the successful completion of a $40 million targeted placement
(Placement) of new equity in March, Hellaby offered existing eligible
shareholders the opportunity to subscribe for up to $10 million of new equity
through a SPP. Subscription for new shares was to a maximum total value of
$15,000 per eligible shareholder. The subscription price for the SPP was
$2.95 representing the lower of:
- $2.95, being the price paid by investors in the Placement ($3.00), less the
amount of the interim dividend ($0.05) paid to shareholders on 19 April 2013;
and
- the average end of day market price of Hellaby shares traded on the NZX
Main Board, calculated over the period of five business days up to and
including the closing date for the SPP of 1 May 2013.
Hellaby has received applications totalling $15.2 million from the SPP Offer,
with 2,210 shareholders participating, representing 52% of eligible
shareholders. Shares issued under the SPP will be allotted on 6 May 2013
with refunds to shareholders arising from scaling to be direct credited, or
cheques mailed, on or around that date.
Hellaby Chairman, John Maasland, said "We are pleased with the strong uptake
that Hellaby has achieved through these two recent equity raising processes,
and the company would like to acknowledge our smaller shareholders for their
support. These equity raisings are an important milestone in Hellaby''s
strategy to strengthen its shareholder base and position the company for
further growth."
ENDS
For further information please contact:
John Williamson
Chief Executive Officer
Hellaby Holdings Limited
Phone: 09 307 6844
Mobile: 021 271 4960
Richard Jolly
Chief Financial Officer
Hellaby Holdings Limited
Phone: 09 307 6844
Mobile: 027 497 6710
About Hellaby Holdings: www.hellabyholdings.co.nz
Hellaby Holdings (''Hellaby'') is an NZX-listed investment holding company,
which owns a diversified portfolio of New Zealand and Australian industrial,
distribution and retail businesses.
Our vision is to be a leading Australasian investor, based on the value we
add to our portfolio, the returns we deliver to our shareholders and the
calibre of our people. Hellaby will generate attractive long-term shareholder
value through a combination of performance improvement and organic growth in
the businesses we own, and through smart acquisitions and divestments. We
describe this strategy simply as ''Buy, Build, Harvest''. We seek to generate
total shareholder returns superior to the NZX50 Gross Index.
We have a variable investment horizon, and our portfolio will evolve over
time. We actively manage our investments through a lean corporate office, and
decentralise leadership and performance accountabilities to our companies.
End CA:00235796 For:HBY Type:S/HOLDER Time:2013-05-02 15:39:09