Me Today completes Rights Issue Oversubscribed

Auckland, New Zealand: Me Today Limited (NZX: MEE) is pleased to announce that it has raised $3.1m from the rights issue which closed on Friday 22 March 24. The Rights issue was fully subscribed to the target raise level of $2.8m with the company accepting oversubscriptions of $300k (an 11.9% oversubscription).

Of the total subscriptions $2.35m was raised from largest shareholders, trustees of the Baker Investment Trust No 2 and the trustees of the Sinclair Investment, the remaining $750k was raised from existing and new shareholders. The raise was also well supported from the Me Today shareholder base within the Sharesies platform. The new shares arising from the rights issue will be allotted today.

The capital raise was completed as part of the debt restructure plan which has ring fenced the Me Today business from King Honey and provides Me Today with a pathway to grow and take advantage of opportunities that are currently available.

The capital raise funds will be used to enable continued investment in the Me Today brand, take advantage of sales and brand opportunities in New Zealand and International markets, invest in research and development projects and fund the working capital needs of the Me Today brand.

CEO Stephen Sinclair said, "Me Today was pleased with the support received from shareholders and it was looking forward to further developing the brand in local and International markets."


For further information, please contact:

Stephen Sinclair
CEO, Me Today Limited
021 330 053
[email protected]

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Announcement PDF