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Turners Automotive Group announces NZ$25 million equity raising

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  1. Sept 13 (Reuters) - Turners Automotive Group Ltd (TRA)

    • Announced NZ$25 million equity raising through an underwritten placement of new ordinary shares in Turners
    • Placement has been fully underwritten at a fixed price of $3.02 per share.
    • Turners has sought a trading halt from NZX and ASX pending completion of placement
    • Turners also seeks to raise up to NZ$5 million through a non- underwritten SPP
    • Expects to declare interim dividend for 1Q FY18 period, which is no less than 1Q FY17 interim dividend during October 2017

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