12 October 2017
Completion of DRP Shortfall Placement
Retail Food Group Limited (“RFG”) today announced that it had successfully undertaken a DRP Shortfall Placement (‘the Offer’) to raise approximately $22m before costs to support capital management initiatives.
Approximately 5 million ordinary shares have been placed with institutional and sophisticated investors, at $4.40 per share, representing a discount of 2.24% to the 5 day volume weighted average price of RFG up to and including 11 October 2017.
The issue was within the prescribed 15% limit under ASX Listing Rule 7.1, and all shares issued pursuant to the placement will rank equally with existing ordinary shares.
Settlement of the placement is anticipated to occur on Monday, 16 October 2017, with new shares scheduled for allotment and ASX quotation the following day.
The Offer was managed by Wilsons and Baillieu Holst.
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About Retail Food Group Limited:
RFG is a global food and beverage company headquartered in Australia. The Company is owner of the Donut King, Brumby’s Bakery, Michel’s Patisserie, bb’s Café, Esquires, Gloria Jean’s Coffees, It’s A Grind, The Coffee Guy, Café2U, Pizza Capers and Crust Gourmet Pizza Bar Brand Systems, and is a significant wholesale coffee roaster supplying existing Brand Systems and third party accounts under the Di Bella Coffee Company and Evolution Roasters brands. As well, RFG is an emerging leader in foodservice, dairy processing and wholesale bakery pursuits, operating the Hudson Pacific Foodservice, Associated Foodservice, Dairy Country and Bakery Fresh businesses.
For more information about RFG visit: www.rfg.com.au