- Rights Offer Reminder 276kb pdf
Rights Offer Reminder of Closing Date
Arvida Group Limited (NZX: ARV) (Arvida) issued an offer document on 22 October 2021 detailing a pro rata renounceable offer of new shares at $1.85 per share to existing shareholders (Rights Offer). The Rights Offer is to partly fund the acquisition of the Arena Living portfolio comprising six retirement villages in Auckland and Tauranga.
The Rights Offer opened on 27 October 2021. Rights were allocated on the basis of 1 new share for every 6.57 existing shares held on the record date, being 5.00pm on 26 October 2021. If you wish to take up all or some of your rights you should do so promptly to ensure your application and payment is received by 5.00pm on 8 November 2021 (unless extended). As a reminder, applications will only be accepted online at www.shareoffer.co.nz/arvida.
You do not need to take any further action if you have already applied and paid for your new shares.
New shares attributable to rights of ineligible shareholders, together with entitlements which are not taken up by eligible shareholders will be offered for sale via a bookbuild that is expected to take place on 10 November 2021. These shareholders will have their percentage holding diluted but some value may be received in respect of those new shares if the bookbuild clears at a premium to the offer price although there is no guarantee that any premium will be achieved under the bookbuild. More information can be found in the offer document.
Arvida is giving eligible shareholders the opportunity to participate in the shortfall bookbuild. This allows eligible shareholders to apply for additional shares over and above their entitlement.
If you have not received details of your rights, or you have misplaced your Entitlement Letter, please contact Computershare Investor Services Limited on 0800 650 034 in New Zealand or +61 3 9415 5000 in Australia or alternatively email [email protected].
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