21 April 2017
Share Purchase Plan Close
The Company wishes to advise that the Share Purchase Plan which closed on 20 April 2017 was exceptionally well supported, with a total of approximately $17.9 million in applications received.
The level of applications exceeds the Company's requirements and the SPP capped amount of $10 million. The Board has determined not to accept applications in excess of that amount.
Funds raised by the SPP (along with the Placement and Bond Offer) will provide Villa World with additional financial capacity to replenish and increase land stocks through strategic purchases in optimal growth corridors, resulting in a 'step change' in the business.
As a consequence of the oversubscription, the Board is currently considering the nature of the scale back. A further announcement will be made following the Board's determination.
The timetable for completion of the SPP remains as follows:
Allotment of New Shares issued under the SPP | 28 April 2017 |
ASX quotation of New Shares issued under the SPP | 1 May 2017 |
Despatch of Confirmation Statements | 3 May 2017 |
For enquiries: Paulene Henderson
Company Secretary
Tel: (07) 5588 8888
securityholder@villaworld.com.au
Villa World Limited published this content on 21 April 2017 and is solely responsible for the information contained herein.
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Original documenthttp://www.villaworld.com.au/sites/default/files/ASX_Announcements/4. Share Purchase Plan Close ASX announcement.pdf
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