Directors have decided to make an offer to shareholders under a Share Purchase Plan to raise additional equity for investment purposes.
Subject to other participation requirements, shareholders with a registered address in Australia and New Zealand on the register at 7.00pm (AEDT) on Monday 18 July 2022 will be able to invest up to A$30,000 in the Company’s shares.
The Plan issue price will be the lower of $2.78 per share or by applying a 2.5% discount to the volume-weighted average price of Djerriwarrh shares traded on the Australian Securities Exchange (ASX) and Cboe Australia automated trading systems over the 5 ASX trading days up to and including the day on which the Plan is scheduled to close (18 August 2022), rounded down to the nearest cent.
Therefore, the maximum price that eligible shareholders will pay is $2.78 per New Share, which was calculated by applying a 2.5% discount to the volume-weighted average price of shares traded on the ASX and Cboe Australia automated trading systems over the 5 ASX trading days from 12 July to 18 July 2022 inclusive, rounded down to the nearest cent and then subtracting the value of the 2022 final dividend of 7 cents per share. Djerriwarrh will announce the final issue price for the Plan after the offer closes. The shares issued under the Plan will be eligible for any interim dividend which will be paid in February 2023 that may be declared in respect of the financial year ending 30 June 2023.
It is proposed that details of the Plan will be mailed to shareholders on Tuesday 26 July 2022.
It is also proposed that applications will close on Thursday 18 August 2022 and new shares will be issued under the Plan on Thursday 25 August 2022 and tradeable on the ASX on Friday 26 August 2022.