Brief: NZ Windfarms Says Reached Agreement With Meridian Energy

NZ Windfarms

25/10/2023 20:35

Oct 26 (Reuters) - NZ Windfarms  NWF.NZ :
    * REACHED AGREEMENT WITH MERIDIAN ENERGY
    * AS PART OF COMMERCIAL TERMS, NWF WILL MAKE A PLACEMENT OF
43.2M
NWF SHARES TO MERIDIAN
    * WILL ALSO UNDERTAKE A PRO-RATA RENOUNCEABLE 1:8.5 RIGHTS
ISSUE
OF ABOUT 39.0M SHARES
    * AGREEMENT TO PURSUE DEVELOPMENT AND REPOWER OF TE RERE HAU
WIND
FARM
    * MERIDIAN IS PREPARED TO BECOME A SUPPORTIVE MINORITY
SHAREHOLDER
IN NWF
    * OFFER WILL BE UNDERWRITTEN BY MERIDIAN UP TO ABOUT 28.8M
SHARES
    * PLACEMENT FOR NZ$6.7 MILLION
    * PRO-RATA RENOUNCEABLE RIGHTS ISSUE TO RAISE UP TO
APPROXIMATELY
NZ$6.0 MILLION
    * PLACEMENT AT A PRICE OF NZ$0.155 PER SHARE


Further company coverage:  NWF.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))