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Company News Summary

Oohmedia Releases Investor Presentation - Equity Raising and Trading Update

26 Mar 2020  |  13:43:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Investor Presentation

Oohmedia announced a number of proactive Operational and Capital Structure Initiatives to improve the Company's financial flexibility and maximise liquidity in light of recent global macroeconomic conditions. The Company announced Equity Raising of $167m, proceeds will be applied to repay debt and fund transaction costs will close on 16 April 2020; a placement of New Shares to institutional and sophisticated investors (Placement); and an accelerated non-renounceable pro rata entitlement offer (Entitlement Offer) of 1 New Share for every 1 existing share. The Company announced an amendment of the Company's debt arrangements to increase the gearing covenant to 4.0x Net Debt / EBITDA for CY20. The Placement and Institutional Entitlement Offer closes on 27 March 2020.

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