Brief: Steel & Tube Holdings Announces NZ$80.9 Mln Capital Raising

Steel & Tube Holdings

06/08/2018 21:38

Aug 7 (Reuters) - Steel & Tube Holdings Ltd  STU.NZ :
    * STEEL & TUBE ANNOUNCES $80.9 MILLION CAPITAL RAISING
    * DIVIDENDS ARE EXPECTED TO BE RESUMED IN FY19 CONSISTENT
WITH
STEEL & TUBE'S STATED POLICY OF PAYING 60-80% OF NORMALISED NPAT
    * FY18 RESULTS ARE EXPECTED TO BE SLIGHTLY AHEAD OF GUIDANCE
WITH
WITH AN EBIT LOSS OF ABOUT NZ$36.2 MILLION
    * RAISING NZ$80.9 MILLION VIA $20.8 MILLION PLACEMENT AT
$1.15 PER
SHARE & PRO RATA 1 FOR 1.9 RIGHTS OFFER AT NZ$1.05 PER SHARE
    * FY19 EBIT GUIDANCE IS OF AT LEAST NZ$25.0 MILLION
    * FY19 EBIT GUIDANCE OF AT LEAST $25.0 MILLION, WITH
NORMALISED
EBIT OF $35 MILLION TO $40 MILLION EXPECTED TO BE ACHIEVED IN
NEXT 3 YEARS
    * ALL FIGURES IN NZ$

Source text for Eikon:  ID:nNZW96TZQG 
Further company coverage:  STU.NZ 

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