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Corporate Travel Management Announces Completion of Retail Entitlement Offer

20 Oct 2020  |  10:03:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Completion of Retail Entitlement Offer

Corporate Travel Management announced the successful completion of the retail component of its 1 for 4.03 accelerated pro rata non-renounceable entitlement offer (Retail Entitlement Offer) of new FPO shares (New Shares) as announced on 29 September 2020. The Retail Entitlement Offer closed on 15 October and raised a total of A$113m at A$13.85 per New Share (Offer Price). Together with the institutional component of the entitlement offer (together the Offer), the total amount raised under the Offer is A$375m (after scale backs). The Retail Entitlement Offer saw support from existing retail shareholders with applications totalling A$92m received, reflecting a take-up rate of 81.2%. In addition, A$53m was applied for under the top up facility.

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