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Delta International Property Holdings Ltd. – Results of Private Placement
Hamilton, Bermuda – 16 July, 2014 – In a filing with the Bermuda Stock Exchange (“BSX”), Delta International Property Holdings Ltd. (the “Company” or “Delta International”; Ticker: DLI.BH), today released an update regarding the Company’s recent capital raise. The filing stated:
“Delta International is pleased to announce that it has successfully raised total equity of US$87 million through the issue of new Delta International shares (the “new shares”), at the Rand equivalent issue price of US$2.00 per share (the “equity raise”). The proceeds of the equity raise will be used to partially fund the acquisition of a portfolio of African real estate assets in Morocco and Mozambique.
A total of 9,962,500 new shares were issued and listed on 11 July, 2014.
The balance of 33,291,876 new shares are expected to be issued and list on Wednesday, 23 July, 2014.
Following the issue of the new shares the total issued share capital of the company will increase to 43,918,556 common shares.
The equity raise was offered to invited investors through a private placement process and Java Capital acted as sole bookrunner.
The new shares are being issued in terms of an authority to issue shares granted at the company’s special general meeting held on 12 May, 2014.”
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The company has a primary listing on the BSX and a secondary listing on the JSE.
Bookrunner, corporate advisor and JSE sponsor: Java Capital
BSX sponsor: Global Custody and Clearing Limited, Bermuda