AMA Group’s 2023 Retail Entitlement Offer Raises $15.8 Million

AMA Group has announced that the retail component of its 1 for 2.15 accelerated non-renounceable entitlement offer of new shares raised approximately $15.8 million. The total amount raised under both the placement and entitlement offer is approximately $55 million.

“The retail entitlement offer received a total of 79 valid applications for retail entitlements, which included over-subscriptions up to 200 per cent of an eligible shareholder’s entitlement. Approved valid applications were received for approximately 4.0 million new shares equating to approximately $0.3 million,” said AMA.

“The approximately 207.2 million new shares that were not taken up by eligible retail shareholders under the retail entitlement offer will be allotted to sub-underwriters of the retail entitlement offer.”

Approximately 211.2 million new shares to be issued under the retail entitlement offer are expected to be allotted on 2 October 2023 and will trade on the ASX on a normal settlement basis on 3 October 2023. New shares issued under the retail entitlement offer will rank equally with existing AMA Group shares as at their date of issue. Holding statements are expected to be despatched on or around 4 October 2023.

“Eligible retail shareholders should confirm the actual number of new shares allocated and issued to them before trading in new shares and the sale by any eligible retail shareholder of new shares prior to receiving their holding statement is at their own risk,” said AMA.