APN News & Media Limited (ASX, NZX: APN) (APN) today announced the successful
completion of the retail shortfall bookbuild (Retail Shortfall Bookbuild)
component of its fully underwritten 1 for 3 accelerated renounceable
entitlement offer with retail entitlements trading (Retail Entitlement Offer)
of new fully paid ordinary shares in APN (New Shares).
The completion of the Retail Shortfall Bookbuild concludes the approximately
A$180 million equity raising at an offer price of $0.53 per New Share (Offer
Price), announced on Wednesday, 11 May 2016.
APN Chairman Mr Peter Cosgrove said "APN is delighted with the strong support
received from our retail and institutional shareholders for the equity
raising which reinforces shareholder confidence in the initiatives APN
announced on 11 May 2016 to enhance shareholder value."
Approximately 12.4 million retail entitlements were sold in the Retail
Shortfall Bookbuild at a clearing price of $0.67 per New Share (being the
Offer Price of $0.53 per New Share, plus $0.14 per retail entitlement).
Eligible retail shareholders who did not exercise their entitlements, and
ineligible retail shareholders, will receive $0.14 in cash for each retail
entitlement sold in the Retail Shortfall Bookbuild, less any applicable
withholding tax (Retail Premium) on or about Wednesday, 8 June 2016.
New Shares to be issued under the Retail Entitlement Offer (including under
the Retail Shortfall Bookbuild) are expected to be issued on Tuesday, 7 June
2016 and to commence trading on a normal settlement basis on the ASX and NZX
on Wednesday, 8 June 2016.
End CA:00283393 For:APN Type:GENERAL Time:2016-06-02 09:40:27