Cash Converters International Ld Issue of Equity (3056S)
November 29 2012 - 4:57AM
UK Regulatory
TIDMCCVU
RNS Number : 3056S
Cash Converters International Ld
29 November 2012
29 November 2012
Cash Converters Raises $32.7 million to Fastrack Growth
Cash Converters International Limited ("Cash Converters" or "the
Company") (ASX:CCV) is pleased to advise that it has resolved to
raise up to $32.7 million through a placement of 38.5 million
shares at 85 cents per share ("Placement").
The Placement is being made to institutional and sophisticated
investor clients of Hartleys Limited. The Placement shares will be
issued pursuant to the Company's ASX Listing Rule 7.1 15%
capacity.
The funds from the Placement will be used to acquire stores
within the franchised network, to open new corporate stores and to
finance the growth of the Australian and UK personal loan
books.
Cash Converters Managing Director Peter Cumins said "the
Placement was substantially oversubscribed with strong support from
existing and new institutional investors. This capital raising
places us in a very strong position to increase our corporate store
network and to fund the fast growing personal loans books.
Following our strong first quarter and the growth opportunities we
see ahead, the outlook for Cash Converters is very promising".
This announcement lists the trading halt on Cash Converters
Shares.
For more information contact:
Cash Converters International Limited
Michael Cooke, Group Legal Counsel michael.cooke@iho.cashconverters.com
+61 400016342
Charles Stanley Securities
Dugald Carlean / Karri Vuori +44 20 7149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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