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Company News Summary

Rural Funds Group Issues Non-Renounceable Entitlement Offer

12 Jul 2018  |  09:33:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Non-Renounceable Issue

Rural Funds Group negotiated a transaction involving the acquisition of JBS Australia's (JBS) five Australian feedlots and associated cropping land for $52.7m including stamp duty (Feedlots), and the provision of a $75.0m limited guarantee (Guarantee) to J&F Australia (J&F). The Feedlots and Guarantee reflect a total investment by the Company of $127.7m (JBS Agreements). The Transactions and associated costs will be equity funded via a fully underwritten $149.5m accelerated non-renounceable entitlement offer (Equity Raising). The Equity Raising is a fully-underwritten 3 for 10 accelerated non-renounceable entitlement offer to raise $149.5m. The record date is 16 July 2018, the opening date is 18 July 2018 and the closing date is on 1 August 2018.

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