Gentrack Group Limited (“Gentrack”) (NZX/ASX: GTK) is pleased to advise that it has successfully completed the retail entitlement offer component (“Retail Entitlement Offer”) of its underwritten 1 for 5.77 pro-rata accelerated entitlement offer (“Offer”) of new fully paid ordinary shares in Gentrack (“New Shares”) announced on Wednesday 4 July 2018. A total of approximately NZ$90 million will be raised under the Offer.
The Retail Entitlement Offer closed on Thursday 26 July and raised gross proceeds of approximately NZ$25.8 million. The Retail Entitlement Offer was well supported by existing retail shareholders with Eligible Retail Shareholders electing to take up approximately 68% of their Entitlements under the Retail Entitlement Offer.
Retail Shortfall Bookbuild
Gentrack will offer for sale under the retail shortfall bookbuild (“Retail Shortfall Bookbuild”) approximately 1.93 million Entitlements, being those Entitlements attributable to Eligible Retail Shareholders that did not take up their Entitlements in full and Retail Shareholders who are ineligible to participate in the Retail Entitlement Offer.
The Retail Shortfall Bookbuild will be conducted today, Monday 30 July 2018.
Any proceeds achieved above the Offer Price from the sale of Entitlements in the Retail Shortfall Bookbuild will be paid (less applicable taxes) on a pro-rata basis to those Eligible Retail Shareholders who did not take up their Entitlements in full or Retail Shareholders who are ineligible to participate in the Retail Entitlement Offer. There is no guarantee that any amount will be realised for the sale of Entitlements through the Retail Shortfall Bookbuild.