Successful Completion of Retail Entitlement Offer
Bendigo, June 21, 2022 AEST (ABN Newswire) - Apiam Animal Health Limited (
ASX:AHX) is pleased to announce that it has successfully completed the fully-underwritten retail component of its pro rata 1 for 4.8 accelerated non-renounceable entitlement offer (Entitlement Offer) of new shares. This represents the final stage of Apiam's $20.25 million Entitlement Offer as announced to the ASX on 26 May 2022.
Under the Retail Entitlement Offer, Apiam will raise approximately $8.4 million through the issue of 11,934,845 shares at $0.70 per share. 2,509,943 fully paid ordinary shares will be issued to shareholders participating in the Entitlement Offer and in addition 9,424,902 fully paid ordinary shares will be issued pursuant to the underwriting agreement with joint lead managers, Shaw and Partners Limited and Morgans Corporate Limited.
The settlement date for new securities issued under the Retail Entitlement Offer is 23 June 2022. Allotment of these securities is expected to occur on 24 June 2022 and trading on the ASX is expected to occur on 28 June 2022.
Apiam's Managing Director, Dr Chris Richards said "The Retail Entitlement Offer has successfully completed, and we would like to thank our shareholders for their continued support. We now look forward to completing the settlement of the recently announced acquisition of Victorian Equine Group and continuing to execute on our accelerated growth strategy to target base revenue of $300 million by FY24 through organic growth initiatives applied across both existing clinics and future high quality acquisitions".
About Apiam Animal Health Limited
Apiam Animal Health Limited (ASX:AHX) is one of Australia's leading rural veterinary businesses made up of more than 80 Veterinary Clinics and 330 highly experienced veterinarians as part of a team of over 1300 dedicated professionals. The majority of Apiam's vet clinics, production animal, and allied businesses have been around a long time, many of them decades and are spread Australia wide reaching into the heart of dairy, beef, sheep and pig country and the regional towns that are at their centre.
Apiam Animal Health is committed to providing best in class care for its clients, the animals in their care and the communities where people live and work. The Company's purpose, to enrich the lives of animals, people and communities, is applied across all businesses from vet clinic to production animal consultancy, logistics and laboratory with vets and allied staff sharing expertise and specialist knowledge. Apiam is focused on meeting the needs of its clients and shaping the future of the industry to deliver best practice animal health and welfare at a local level and nationally.
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