Strategic rationale for the acquisitions
Institutional placement and share purchase plan
1.
2.
Equity Raising size,
structure and
underwriting
Placement pricing
Ranking
Share purchase plan
•
Fully underwritten institutional placement to eligible institutional investors to raise approximately $300m
Issue of approximately 89.6 million New Shares under the Placement, representing approximately 9.1% of Metcash's ordinary shares
on issue
Non-underwritten share purchase plan to eligible shareholders to raise up to $25m¹
The Placement will be conducted at $3.35 per New Share ("Placement Price"), which represents:
•
8.0% discount to the last close price of $3.64 on 31 January 20242
•
6.8% discount to the 5-day volume weighted average price of $3.60 on 31 January 20242
New Shares issued under the Placement and SPP will rank equally with existing Metcash shares from their respective issue dates
•
•
Eligible Metcash shareholders with a registered address in Australia and New Zealand will be invited to apply for up to $30,000 of
New Shares free of any brokerage, commission and transaction costs
New Shares under the SPP will be offered at the lower of the Placement Price and the 5-day VWAP of Metcash's shares prior to the
SPP closing
The SPP may raise up to $25m¹
An SPP Booklet containing further details about the SPP will be made available to eligible shareholders on 12 February 2024
Metcash may decide to accept applications (in whole or in part) that result in the SPP raising more or less than this amount in its absolute discretion. Proceeds raised under the SPP will provide Metcash with additional capacity to support growth opportunities.
Metcash Limited's shares were in a trading halt on Thursday 1 February 2024 and Friday 2 February 2024
Melcash
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
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