SILVER CHEF RAISES $7.5 MILLION THROUGH SHARE PLACEMENT

Written on the 16 September 2016 by James Perkins

SILVER CHEF RAISES $7.5 MILLION THROUGH SHARE PLACEMENT SILVER Chef Limited (ASX: SIV) has completed a $7.5 million placement to institutional and sophisticated investors through the issue of 737,892 ordinary shares at $10.13 per share.

The issue price is a 5.2% discount to the five-day average price of $10.69 and a 5.1% discount to the ten-day average price of $10.67.

Silver Chef executive chairman Allan English (pictured) says he is delighted with the strong level of support for the equity raise.

"The placement is in accordance with the company's capital management plan and ensures the company is appropriately funded to support its strong growth outlook," says English.

All existing shareholders were able to reinvest in the company at $10.13 per share through the recent dividend reinvestment plan, which was applicable to the final 30 June 2016 dividend.

Shares issued as part of the placement will rank equally in all respects with the company's existing fully paid ordinary shares.

The placement shares are expected to be issued and commence trading on 22 September 2016.

Silver Chef, which was recently added to the S&P Dow Jones ASX200 list, made two equity capital raisings in FY16, in October 2015 and April 2016, for a total of $34 million.

SIV shares are trading up 0.09 per cent this morning at $10.93 each.





Author: James Perkins Connect via: Twitter LinkedIn

Latest News

PROFIT BOOST FORECAST AT VILLA WORLD

VILLA World has forecast profit growth of 5 per cent in the first half of FY17 in an earnings guidance released to th...

WP CURVE SOLD TO GODADDY

NASDAQ-listed tech company GoDaddy has bought Gold Coast's WP Curve for an undisclosed sum.

The subscription-b...

BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

ONLINE actionwear retailer SurfStitch Group (ASX: SRF) has announced a major board shake-up in a move that effectivel...

ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN Energy will spin off its upstream oil and gas business in an as-yet unpriced IPO.

It will allow the Sydney-...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter