Seeka announces completion of Shortfall Bookbuild

12 December 2018
Seeka announces completion of Shortfall Bookbuild
Seeka Limited [NZX:SEK] announces the completion of the rights issue component of its
capital raising strategy announced on 12 November 2018, following the completion of
the Shortfall Bookbuild on 11 December 2018.
A total of approximately $50 million has been raised under the Rights Offer and Shortfall
Bookbuild, and will be used to strengthen Seeka’s balance sheet, repay bank debt,
undertake planned capital expenditure and provide the company with the financial
flexibility to further pursue its strategy of becoming New Zealand’s leading orchard-to-
market business.
The Shortfall Bookbuild price was $4.25 per new share. As this price was the same as the
application price for new shares under the Rights Offer, no premium will be payable to
eligible shareholders who elected not to take up their full entitlements, and those
ineligible to participate, in the Rights Offer.
The new shares taken up under the Rights Offer and Shortfall Bookbuild are expected to
be allotted and commence trading on 14 December 2018.
Chairman of Seeka, Fred Hutchings, said: “We thank existing shareholders for their
support and welcome all new shareholders to Seeka. New shareholders include both
New Zealand and Australian investment funds and significant private investors. This
capital raise strengthens the Company’s balance sheet and provides the flexibility to
continue executing our strategy of managed growth to deliver value to both shareholders
and stakeholders.”
Seeka shares will recommence trading today.
Ends.
For further information please contact:
Michael Franks Seeka Chief Executive 021356516
Stuart McKinstry Seeka Chief Financial Officer 0212215583