RFG Proposes a Fully Underwritten Placement and a Share Purchase Plan To Repay Debt

1 min read | October 15, 2019 01:57 PM AEDT | By Team Kalkine Media

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Retail Food Group Limited (ASX: RFG) proposed a fully underwritten placement to sophisticated and professional investors.

The placement would mark an issue of 1,700 million ordinary shares at an offer price of $0.10 per share;
The placement is subject to shareholder approval, which would be looked upon at the general meeting of the company, to be held on or around 19 November 2019;
RFG also plans to offer a Share Purchase Plan (or SPP) at $0.10 a piece, to raise a further $20 million before cost;
The net proceeds from both the offers would primarily be used to repay debt, strengthen the companyâs balance sheet and provide working capital;
Petra Capital and Shaw & Partners are the underwriter of the offer.

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