Extension of Loan Facilities' Maturity
5 Lady Fisher Place
East Tamaki
Auckland, 2013
PO Box 58 144
Botany
Manukau
Auckland, 2163
P 09 927 3000
F 09 914 3325
Page | 1
NZX.MPG, ASX.MPP
23 December 2024
MPG Bank Syndicate Agrees to Extend Loan Facilities' Maturity
The company’s bank syndicate has agreed to extend the maturity date of its loan
facilities to 31 July 2025. This is based on directors' plans to undertake a capital raising
in the June quarter of next year.
As announced previously, directors plan to undertake a capital raising by way of a
supported rights offer to shareholders. Directors remain engaged with four potential
investor groups to support a rights offer, as announced on 16 December. The extension
will allow directors to pursue these options in a timely manner, as well as pursue
(and/or receive) expressions of interest from other parties wishing to consider
investment in the company.
The extension provides more time for the company’s operational and customer service
improvements to advance further and be reflected in the company’s immediate
earnings trajectory. This timing also allows for completion of the company’s financial
statements for the 2025 financial year ending March, providing a more complete
information picture for investors.
As announced on 17 December, CCP VI Bidco (NZ) Ltd, a company managed by
Crescent Capital Partners, proposed a highly conditional offer for the company. The
Directors are working with CCP VI Bidco to qualify the uncertainties required to properly
assess their proposal. Please refer to the company's Announcement on 17 December
for further details.
Notwithstanding directors’ capital raising plans as outlined above, directors reiterate
that all options remain open for consideration until the company has committed
unconditionally to a certain path or transaction.
ENDS
For further information please contact:
Simon Bennett – Executive Director: 021 036 8387
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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