oOh!media (ASX: OML) Resumed Trading after Completing the Institutional Component of Fully Underwritten Entitlement Offer

oOh!media Limited successfully completed the institutional component of its 1 for 2.3 pro rata accelerated non-renounceable entitlement offer (Entitlement Offer or Offer) of new fully paid ordinary shares in OML (New Shares). The details of the Offer were announced to ASX on 25 June 2018 and the Offer got completed on 26 June 2018. The offer had strong support and had a take-up rate from institutional investors of approximately 82 per cent. Further, the retail component of the Entitlement Offer (Retail Entitlement Offer) is expected to open on 29 June 2018 and will close at 5.00pm (Sydney, Australia time) 11 July 2018. All the terms and conditions related to the offer will be mentioned in the Booklet.

The Institutional Entitlement Offer was able to raise gross proceeds of approximately A$290 million. The new shares which were not taken up in respect of institutional entitlements and which would have represented the entitlements of ineligible institutional shareholders were offered and placed to institutional investors. This shortfall was oversubscribed, with significant demand from both new and existing institutional investors.

 These new shares that were subscribed under the Institutional Entitlement Offer are expected to be settled on 4 July 2018 and will start trading on the ASX on 5 July 2018. The Entitlement Offer is fully underwritten and is expected to raise approximately $329.9 million. Moreover, these new shares will be ranked equally with existing fully paid ordinary shares in OML as at their date of issue. With this, the ordinary shares recommenced trading on ASX on an ex entitlements basis from market open today (27 June 2018). The share price tumbled by 10.28 per cent after this announcement and traded at $4.8 (as on 27 June 2018; 15:40 PM AEST).


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