Company also announces A$20 million share purchase plan at same price
By Devika Patel
Knoxville, Tenn., April 7 - Ausdrill Ltd. said it received firm commitments for a "heavily oversubscribed" A$129.5 million private placement of shares.
The company will sell 37 million ordinary shares at A$3.50 per share. The per-share price represents a 9.09% discount to the A$3.85 closing share price on April 6.
Settlement is expected April 14.
The company also said shareholders will have an opportunity to purchase up to A$20 million of shares at the same price in a share purchase plan.
Based in Kewdale, Western Australia, Ausdrill is a diversified mining and services company providing services in mining, drill and blast, exploration, procurement and logistics, manufacturing and telecommunications.
| Issuer: | Ausdrill Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$129.5 million
|
| Shares: | 37 million
|
| Price: | A$3.50
|
| Warrants: | No
|
| Announcement date: | April 7
|
| Settlement date: | April 14
|
| Stock symbol: | Australia: ASL
|
| Stock price: | A$3.85 at close April 7
|
| Market capitalization: | A$1.01 billion
|
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