Retail Entitlement Offer - Documents Mailed to ... - AWB Limited
Retail Entitlement Offer - Documents Mailed to ... - AWB Limited
Retail Entitlement Offer - Documents Mailed to ... - AWB Limited
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Annexure II – Inves<strong>to</strong>r Presentation (continued)7. Equity raising1. OverviewNot for distribution or release in the United States or <strong>to</strong> U.S. persons3023 September 2009Details of the equity raising<strong>Offer</strong>structure• Accelerated non-renounceable 1:1 entitlement offer andinstitutional placement <strong>to</strong> raise gross proceeds ofapproximately $459m– Institutional entitlement offer <strong>to</strong> raise approximately $115m– Institutional placement <strong>to</strong> raise approximately $100m– <strong>Retail</strong> entitlement offer <strong>to</strong> raise approximately $244m• Eligible retail shareholders may apply foroversubscriptions• <strong>Entitlement</strong> offer and placement fully underwritten<strong>Offer</strong> price• <strong>Offer</strong> price of $1.00 per new share, representing:– 31% discount <strong>to</strong> last closing price– 26% discount <strong>to</strong> 30-day VWAP– 18% discount <strong>to</strong> TERPDividendpolicy• Dividend policy of 40 – 65% of NPAT post significant items• No final dividend for 2008/09 financial yearNot for distribution or release in the United States or <strong>to</strong> U.S. persons31 23 September 200940