Moa Group Limited (MOA) is pleased to announce that its non-renounceable
rights issue, launched on 8 September 2016, closed on 7 October and that the
company has been successful in raising the targeted $1.26 million.
The rights issue offered 1.73 million new shares to existing shareholders at
a ratio of one new share for every 30 shares held. The new shares were issued
at a price of $0.73. The rights issue followed two key New Zealand
institutional investors taking a placement in Moa on 8 September at the same
price.
Together with the $2.75 million placement, the company''s equity raising plan
has successfully achieved its objective of raising $4 million, giving the
company the capital it needs to pursue its growth objectives, including the
development of third party distribution arrangements, starting with ParrotDog
End CA:00290570 For:MOA Type:RIGHT Time:2016-10-11 08:30:37