AWB Limited’s Victorian shareholders can find out details of AWB’s share Offer at forums to be held in Victoria, AWB Managing Director and Chief Executive Andrew Lindberg said today
AWB is hosting two shareholder forums in Victoria to discuss its recently released prospectus regarding AWB’s forthcoming float on the Australian Stock Exchange (ASX).
AWB has released details of its Share Offer and all existing Victorian shareholders will be sent a prospectus outlining this information later this week. These forums will allow shareholders to discuss the Offer with, and ask questions of AWB Managing Director and Chief Executive, Mr Andrew Lindberg, and senior AWB staff.
Mr Lindberg said the Offer represented a quality investment proposition for Australian wheat growers.
The Offer gives Victorian wheat farmers who own AWB ‘B’ Class shares the opportunity to either top up their investment, hold current shareholdings or sell their AWB shares for $3.15 a share.
The listing will see a total of 242 million unlisted shares in the company, which are mostly owned by Australian wheat farmers, commence trading on the ASX in late August.
“With our forecast full year results showing a 25 per cent increase in profit, investors can be confident that our growth strategy is working,” Mr Lindberg said.
The meetings being held in Victoria are on 27 July 2001, at the following venues:
- 7:30am – 9:30am - Birchip Town Hall, Birchip
- 11:30am – 1:30pm - Oaklands RSL and Bowling Club, Oaklands
Mr Lindberg said the expected $100 million in capital raised through the issue of up to 31.8 million additional shares would fund future growth, particularly in the provision of an expanded range of financial and risk management products, and investments that are aligned to AWB core business.
“As well as generating additional returns for shareholders, our growth strategy is aimed at achieving better outcomes and lower costs for growers to ensure Australia’s grain industry remains highly competitive,” said Mr Lindberg.
The Share Offer opens on 23 July 2001 and is expected to close on 15 August 2001. Any enquires regarding the Offer should be directed to AWB’s Share Registry on 1800 810 032.
For further information contact Peter McBride on 03 9209 2174 or 0417 662 451.