The board of Widespread has been investigating options for raising further capital. Monies raised are proposed to be used to increase Widespread's interests in existing investments and for investment in new opportunities that fall within Widespread's investment strategy.
The board has resolved to proceed with offering a $1,000 share purchase plan to shareholders with the opportunity for shareholders to apply for any shortfall in the offer, up to an aggregate subscription price of $5,000. The offer price per share will be determined at a later stage based on the prevailing market price of Widespread shares and relevant regulatory requirements.
It is intended that the record date for this will be in mid to late May. A further announcement will be made at a later date confirming the timetable and offer particulars.
Please note that this announcement is strictly given for informational purposes only and is not an offer capable of acceptance. Whether this proposed offer proceeds is entirely conditional on final board approval and NZX approval in accordance with the listing rules.