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Company News Summary

InvoCare Announces Business Update and Capital Raising

14 Apr 2020  |  09:33:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Placement

InvoCare announced undertaking an institutional placement to raise $150m and follow on share purchase plan to maintain the momentum of its growth initiatives and further strengthen its balance sheet during COVID-19. Case volumes have been relatively unaffected by the COVID-19 restrictions. The net proceeds of the capital raising will initially be used to reduce net debt, increase liquidity and balance sheet flexibility to support the business during the current uncertain environment. The Board has determined it is prudent to defer the payment of the FY 2019 final Dividend.

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