Life is tough at the bottom!!
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Trading Halt this morning pending a material ann. Must be significant.
Strategic move into financial services - http://research.iress.com.au/ids/old...089400000&ppv=
Institutional placement for what. Cant open Karens link.
Capital Raise
In support of the Financial Services Strategy an equity raising is being undertaken to strengthen The Warehouse Group’s capital base. This consists of a $115M capital raising underwritten by Deutsche Craigs Ltd, comprising:
• A $100M institutional placement at $3.23 per share, a 5% discount to the ex dividend 5 day VWAP. The placement will be conducted on 6th March with settlement on 13th March. Placements shares will be issued ex Dividend
• A $15M Share Purchase Plan, available to eligible NZ resident Shareholders on the register at the record date of 18th March. Each eligible shareholder can apply for up to $15,000 new shares, with further details to be announced in due course
And Tindall and the Tindall foundation are participating in the capital raise to maintain their level of SH.