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

2017 BRISBANE TOP COMPANIES REVEALED

WHILE Queensland is regarded as an economy in transition with the winding down of the mining boom, the 2017 top 50...

2017 BRISBANE TOP COMPANIES 1-10

FROM insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have ha...

2017 BRISBANE TOP COMPANIES 11-20

RETAIL, property, an airline, cars, real estate, software services, energy, agriculture, veterinary services bathr...

2017 BRISBANE TOP COMPANIES 21-30

JEWELLERS Michael Hill International listed in 2016 with a half-billion dollar market capitalisation and a new CEO...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter