InvoCare Limited has successfully completed its share purchase plan (SPP).
The SPP received great support from shareholders and was oversubscribed with applications which approximately $29.7 million.
However, to comply with terms and conditions, InvoCare has agreed to reduce applications to a total of $22.8 million. All applications that exceeded $10,000 were scaled back to under that amount.
The price of the SPP Offer has been set at $14.00 per share.
Following the completion of the share purchase plan, InvoCare has raised a combined total of about $88 million.
“We are delighted with the strong support shown by participants in the SPP, following the successful completion of the Institutional Placement last month. We continue to be excited by the outlook for our business and thank our shareholders for their continued support,” CEO of InvoCare, Martin Earp, said.
New Shares will be issued under the share purchase plan on Thursday 11 April 2019. Trading on the ASX will commence on Friday 12 April 2019. On the following Monday (15 April), applicable holding statements and refunds will be dispatched.