Further to the announcement on 23 November 2016 regarding the completion of the retail component of the entitlement offer, SpeedCast International Limited (ASX:SDA) (SpeedCast) is pleased to announce the successful completion of the retail shortfall bookbuild (Retail Shortfall Bookbuild) as part of its fully underwritten 2 for 3 accelerated renounceable entitlement offer (the Offer). Summary
- Approximately 8.8 million retail entitlements were sold in the Retail Shortfall Bookbuild
- The Retail Shortfall Bookbuild had a clearing price of AUD 3.10 per share
As the Retail Shortfall Bookbuild did not price above the Offer price of AUD 3.10, eligible retail shareholders who did not exercise their entitlements, and ineligible retail shareholders, will not receive any value for retail entitlements offered in the Retail Shortfall Bookbuild on their behalf.
Shares taken up under the Retail Entitlement Offer are expected to be allotted on Tuesday, 29 November 2016 and will commence trading on Wednesday, 30 November 2016.
Commenting on the completion of the Offer, SpeedCast's CEO, Pierre-Jean Beylier, said, "The completion of the offer is a significant milestone towards the acquisition of Harris CapRock, a transformational opportunity for SpeedCast. We are delighted with the support received from our retail and institutional shareholders and are excited to share our future successes with them."
The completion of the Retail Shortfall Bookbuild concludes the approximately AUD 295M accelerated renounceable entitlement offer to fund the acquisition of Harris CapRock from Harris Corporation.
Media Contact Information: Clara So Marketing Director SpeedCast International Limited T: +852-3919-6800 E: clara.so@speedcast.com Investor Contact Information: Ian Baldwin Chief Financial Officer SpeedCast International Limited T: +61-432-680-746 E: ian.baldwin@speedcast.com
