Skydive the Beach Group Limited (ASX Code: SKB) (Company) announced a fully underwritten 2 for 21 accelerated non-renounceable pro-rata entitlement offer of new ordinary shares at an issue price of $0.52 per new share to raise approximately A$19.6 million (Entitlement Offer).
The Entitlement Offer has the following two components.
An institutional entitlement offer, where offers have been made to qualifying institutional securityholders for them to apply for their pro-rata entitlement (Institutional Entitlement Offer).
New shares issued under the Entitlement Offer will rank equally in all respects with existing shares from the date of allotment, but will not be entitled to the dividend payable on 30 September 2016.
The anticipated timetable in relation to the Entitlement Offer is set out below.
Event |
Date |
Trading Halt commences Institutional Entitlement Offer opens |
Wednesday, 28 September 2016 |
Institutional Entitlement Offer closes - Bookbuild |
Friday, 30 September 2016 |
Announce results of Institutional Entitlement Offer Trading halt lifted Trading in ordinary shares resumes on an ex-entitlement basis (ASX Code: SKB) |
Friday, 30 September 2016 |
Record Date for Entitlement Offer |
Friday, 30 September 2016 |
Retail Entitlement Offer Booklet and acceptance forms despatched Retail Entitlement Offer opens |
Wednesday, 5 October 2016 |
Settlement of Institutional Entitlement Offer |
Thursday, 6 October 2016 |
New shares issued under the Institutional Entitlement Offer commence trading on a normal settlement basis (ASX Code: SKB) |
Friday, 7 October 2016 |
Retail Entitlement Offer closes |
Monday, 17 October 2016 |
Announce results and shortfall (if any) of Retail Entitlement Offer |
Thursday, 20 October 2016 |
Placement of shortfall (if any) |
Monday, 24 October 2016 |
Issue of new shares under the Retail Entitlement Offer |
Tuesday, 25 October 2016 |
New shares issued under the Retail Entitlement Offer commence trading on a normal settlement basis (ASX Code: SKB) |
Wednesday, 26 October 2016 |
Despatch of holdings statements |
Thursday, 27 October 2016 |
Settlement issues
Despite the fact that securities are trading ‘ex entitlement’ on ASX Trade, CHESS will not recognise for settlement purposes the ‘ex entitlement’ or the ‘cum entitlement’ tag on CHESS messages and CHESS will not maintain cum balances during the deemed ‘CHESS ex-period’, i.e. the period commencing on the deemed CHESS ex-date up to and including the record date. However, a record date cum balance will be available the business day following the record date, which will be equal to the registered holding balance at CHESS end of day on the record date. As a result any transfer that occurs prior to record date will be effectively transferred on a ‘cum entitlement’ basis.
Therefore, Participants must ensure that any transfer, including the priming of Broker Entrepot Accounts, is conducted in accordance with the basis of quote. For example, a transfer in relation to a transaction conducted on an ‘ex entitlement’ basis should ordinarily only occur post record date.
CHESS will perform automatic diary adjustments to ‘cum entitlement’ settlement obligations outstanding as at the record date.
Trading issues
ASX will not price a ‘cum entitlement’ market with respect to trading in the Company’s securities. Persons who acquire the Company’s securities after the commencement of the trading halt on Wednesday, 28 September 2016 are not entitled to participate in the Entitlement Offer.
For further details, please refer to the Company’s announcements or contact the Company’s Company Secretary, Anthony Ritter on 1300 663 634.
Kimberley Brown
Kimberley Brown
+61 (02) 9227 0133
info@asx.com.au