F.Y.I.

Ooh Media completes institutional placement to raise $60 million

Ooh Media has successfully completed an institutional placement to raise $60 million through the issue of approximately 12.6 million new shares at the placement price of $4.75 per new share, representing a 2.9% discount to the last close price of $4.89 on Monday, 10 October 2016.

ooh-media

Related: Ooh Media to acquire Executive Channel Network and raise $60m to fund deal

The announcement:

oOh!media Limited

ABN 69 602 195 380

12 October 2016 

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Successful completion of $60 million placement

•       $60 million placement significantly oversubscribed with strong support from both existing and new institutional investors

•       The placement price of $4.75 per new share, represented an 2.9% discount to the last close price of $4.89 on Monday, 10 October 2016

•       oOh! to recommence trading on ASX on Wednesday, 12 October  2016

oOh!media Limited (ASX: OML; oOh!) is pleased to announce it has successfully completed an institutional placement to raise $60 million through the issue of approximately 12.6 million new shares (the Offer), as announced on Tuesday, 11 October 2016. The placement price of $4.75 per new share (Offer Price), represents a 2.9% discount to the last close price of $4.89 on Monday, 10 October 2016.

A majority of the proceeds from the Offer will be used to fund the acquisition of Executive Channel Network (ECN), as announced to the market on Tuesday, 11 October 2016. The acquisition of ECN adds significant scale to oOh!’s existing CBD offering and expands oOh!’s exposure to a premium CBD audience. The acquisition is expected to deliver significant value creation opportunities and synergies.

The Offer attracted significant demand from both new and existing domestic and international investors, resulting in the Offer being substantially oversubscribed at the Offer Price.

oOh!’s Chief Executive Brendon Cook said “We are very pleased with the strong level of demand for the Offer. This demonstrates support for the acquisition of ECN, our strategy in creating a diversified digital advertising platform that is unmissable and the positive outlook this transaction creates for oOh!’s future.”

Further details of the acquisition and strategic rationale can be found in the investor presentation lodged with the ASX on Tuesday, 11 October 2016.

The trading halt is expected to be lifted prior to market open today.

Settlement of the Offer is expected on Friday, 14 October 2016, with allotment and commencement of trading of new shares expected on 17 October 2016.

Share Purchase Plan

As announced to the market on Tuesday, 11 October 2016, oOh! is intending to undertake a Share Purchase Plan (SPP) where each eligible shareholder can apply for up to $15,000 of oOh! shares per oOh! shareholder.

Further information in relation to the SPP including the terms and conditions, will be outlined in a separate SPP Booklet which will be dispatched to eligible shareholders.

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