Augusta Capital Ltd completed the second stage of its $45 million capital-raise on Wednesday with $34 million taken up.
That leaves the balance to come from a retail entitlement offer of one new share for every 1.9 existing shares, at 55c/share, opening today & closing on Tuesday 19 May.
Managing director Mark Francis has subscribed for $3 million of shares but the other executive director, Bryce Barnett has maintained his existing shareholding, through Kawaroa Trustees Ltd, thus reducing his share in the company from 6.06% to 5.85%.
The first stage of the capital-raise, a $12.4 million fully underwritten placement, was followed by an institutional entitlement offer, which closed on Wednesday and raised $21.6 million.
The company said eligible institutional shareholders elected to take up about 93% of their entitlements.
On market, the share price closed yesterday at 76c, up from 71.4c before Monday’s trading halt.
5 May 2020: Augusta Capital completes first stage of $45 million capital-raising
4 May 2020: Trading in Augusta shares halted
1 May 2020: Augusta forfeits one deposit, second one for property fund still at risk
28 March 2020: Augusta pulls Albany purchase, but property fund may be revived
27 March 2020: Augusta pulls property fund IPO
27 March 2020: Centuria ends Augusta bid
18 March 2020: Asset Plus pulls rights issue
11 March 2020: Asset Plus announces rights offer, Augusta to cut its stake
17 February 2020: Augusta defers tourism fund, expects earnings cut
7 February 2020: Augusta launches new fund next week
24 May 2019: Augusta buys Albany Lifestyle Centre from Argosy for new fund
Attribution: Company release.