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Appen Announces Successful Completion of A$285m Placement

12 Mar 2019  |  08:58:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Successful Completion of A$285 Million Placement

Appen announced the successful completion of its fully underwritten A$285m institutional placement at an offer price of A$21.50 per new share (Placement). The Placement was undertaken to fund the upfront consideration payable by the Company for the acquisition of Figure Eight Technologies that was announced on ASX on 11 March 2019. The Settlement of the Placement is expected to occur on 15 March 2019 with allotment expected to occur on 18 March 2019. New shares issued under the Placement (New Shares) will rank equally with existing Company's ordinary shares on issue, except that the New Shares will not be entitled to the FY 2018 final dividend declared by the Company and scheduled to be paid on 25 March 2019.

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