Sandon Capital Investments (ASX:SNC) - Founder, Gabriel Radzyminski
Founder, Gabriel Radzyminski
Source: Sandon Capital/Youtube
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Sandon Capital (SNC) raises $22.4 million through an entitlement offer, top-up and short-fall facilities
  • All shares, including new shares, will receive 3.75 cents per share in fully franked dividends by December 20
  • Shares have closed up 0.98 per cent at $1.03 each on October 4

Sydney-based activist investment firm Sandon Capital (SNC) has wrapped up its one-for-four non-renounceable entitlement offer to raise $22.4 million.

The total figure raised includes proceeds from the entitlement, top-up and short-fall facilities.

Specifically, SNC said the offer, comprising top-up applications, had raised $8.1 million from 729 shareholder applications and resulted in the issuance of over eight million new shares in the company, to be allotted on October 6.

On the other hand, the shortfall placement raised $14.3 million, with shares issued under the facility set to be allotted on October 8.

Taylor Collison acted as the manager for the shortfall facility.

In a statement today, Sandon explained all shares would be entitled to receive 2.75 cents per share in final fully franked dividends, payable on November 5, as well as a one-cent dividend payable on December 20.

SNC Chairman Gabriel Radzyminski commented on the raise.

“We would like to sincerely thank all of our shareholders for their continued trust and support, in particular those who were able to participate in the entitlement offer,” he said.

“We would also like to welcome our new shareholders who participated in the shortfall placement.”

Sandon anticipates the company’s growth in size will help increase the liquidity of its shares and reduce the fixed expense ratio to benefit all shareholders.

Shares closed up 0.98 per cent at $1.03 each on October 4.

SNC by the numbers
More From The Market Online
An ANZ bank on a shopping strip

ANZ takes $250M hit from APRA over ‘risk culture’ after talks

ANZ, one of Australia's four major banks will be carrying a $250 million overlay following discussions…
Australian flag

RBA keeps rates on hold as world awaits Trump tariff fallout

The Reserve Bank of Australia (RBA) has kept the national interest rate on hold in line…
ANZ stock concept

Canberra to pay ANZ $2B to stay in Pacific for 10 years as soft power concerns roll on

ANZ Bank has confirmed it's entered into a 10-year arrangement with the Australian Government to offer…
RBI concept

Findi halts ahead of announcement on Indian ATM fee increases

Findi (ASX:FND), a company building out ATMs in Indian cities, has issued a trading halt on…