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Here we go again........thought they were done with capital raising.....RBC
10/02/2014 08:30
PLACE
REL: 0830 HRS Rubicon Limited
PLACE: RBC: Rubicon to raise NZ$12m (USD10m) in a new share placement
10 February 2014 - Rubicon announced today that it will be raising NZ$12
million (USD10 million) from a placement of shares, with the new capital
being used to strengthen the Company's funding position, and to support its
future commitments to its global forestry biotechnology investment, ArborGen.
International investor, Libra Fund II (Luxembourg) ("Libra"), has agreed to
subscribe for 29.3 million new ordinary Rubicon shares, which will rank pari
passu with Rubicon's existing issued shares. The issue price will be NZ41.29
cents per share, which is the volume weighted average Rubicon share price
over the last 10 trading days on the NZX. Settlement will occur at the same
time the shares are issued, which will be at 5pm on Wednesday 12 February
2014.
Mr Kasnet, the Chairman of Rubicon, said "This is a very positive development
for the Company. Libra is a savvy investor, who clearly sees value in Rubicon
moving forward. We are extremely pleased to have them coming onto our share
register at this time, and we believe they will provide a supportive role in
helping the Company achieve its key shareholder goals."
Libra will hold a 7.2% interest in Rubicon upon completion of the placement.
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Originally Posted by ari
Here we go again........thought they were done with capital raising.....RBC
Yes indeed, but if it bolsters ArborGen leading into an IPO it's got to be a good thing. Good to see Libra willing to invest in RBC's future. Just wish they had paid a bit more. Even though they paid VWA, to get 7.2% of RBC at 41.29c is stealing, as the future will verify I have no doubt.
Last edited by biker; 06-12-2014 at 07:32 AM.
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Originally Posted by biker
Yes indeed, but if it bolsters ArborGen leading into an IPO it's got to be a good thing. Good to see Libra willing to invest in RBC's future. Just wish they had paid a bit more. Even though they paid VWA, to get 7.2% of RBC at 41.29c is stealing, as the future will verify I have no doubt.
All IMHO and I hold quite a few so I'm biased.
Yes indeed biker, I have a fairly sizeable fist full too, just wish there was more news from Arbogen other than how many seedlings are out there.
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Part of Edison report.....A NZ$12m (US$10m) fresh equity injection both endorses Rubicon’s value creation strategy and reinforces the company’s interest in ArborGen in our view. Our fundamental sum-of-the-parts valuation becomes NZ$0.83-0.86. We look for confirmation of trading progress at both Tenon and ArborGen in forthcoming H1 results to continue the forward share price momentum.
Rubicon is a forestry investment company with holdings in Tenon (NZ-listed, US-focused appearance wood product distributor) and ArborGen (an international developer and supplier of advanced forestry seedlings).
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Whatever they are doing to boost share price needs a rethink......has Rubicon got a future?
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Whatever they are doing to boost share price needs a rethink......has Rubicon got a future?
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Whatever they are doing to boost share price needs a rethink......has Rubicon got a future?
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Whatever they are doing to boost share price needs a rethink......has Rubicon got a future?
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exzuse my ignorance .... does Arborgene make any money?
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