New Warrant Issue for Barramundi Limited

OFFER
Wed, Apr 27 2022 03:12 pm

27 April 2022

New Warrant Issue for Barramundi

The directors of Barramundi Limited (Barramundi) are pleased to announce that the company will undertake a pro rata offer of warrants to shareholders.

The purpose of the offer is to raise capital as part of Barramundi’s ongoing capital management programme and provide investors the ability to purchase additional shares in Barramundi at a pre-determined Exercise Price. The offer also aims to increase the size of the portfolio and improve operational efficiency. The net proceeds of the offer are expected to be used for further investment in the Barramundi portfolio.

On the record date, Barramundi shareholders will be issued one warrant for every four shares held. The record date for the issue is 13 May 2022 and the warrants are expected to be allotted on 16 May 2022.

Each warrant gives shareholders the right, but not the obligation, to subscribe for one additional ordinary share in Barramundi on the exercise date. The exercise date is 26 May 2023.

The exercise price will be $0.89 less any dividends declared with a record date during the period commencing on the date of allotment of the warrants and up to the announcement of the final exercise price. The final exercise price will be calculated and advised to warrant holders at least six weeks before the exercise date.

The warrants are expected to be quoted on the NZX Main Board from 17 May 2022 under the issuer code BRMWG.


Contact
Wayne Burns
Corporate Manager
Barramundi Limited


Announcement PDF


Markets News

NZ sharemarket celebrates highest single-day rise in over five months
Markets Market close

NZ sharemarket celebrates highest single-day rise in over five months

The S&P/NZX 50 Index closed at 11,946.43, increasing 143.15 points or 1.21%.

Graham Skellern 24 Apr 2024
Markets

'Serious compliance breaches' in NZ sharemarket

Seven matters were referred to the NZ Markets Disciplinary Tribunal last year.

Murray Jones 24 Apr 2024
'Serious compliance breaches' in NZ sharemarket
Markets

Analysts sour on Air New Zealand

Analysts are more downbeat after a downgrade. 

Rebecca Howard 24 Apr 2024
Analysts sour on Air New Zealand