Sydney, June 6, 2006 AEST (ABN Newswire) - At SAI Global Limited's (ASX: SAI) Extraordinary General Meeting shareholders have voted overwhelmingly in favour of the Conditional Placement of 27 million new ordinary shares in the company.
The Conditional Placement, which raised A$81 million at a final price of A$3.00 per ordinary share, followed the US$61 million acquisition of the UK based international publishing and database business, ILI.
Speaking at the General Meeting the Chairman of SAI Global, Mr George Edwards, said, the Board was delighted with the positive response to the Conditional Placement from existing and new institutional investors.
"The acquisition of ILI was in-line with the Board's strategy to build three global businesses in the area of Business Publishing, Compliance Services and Assurance Services." said Mr Edwards.
Following the strong support for the Placement and the recent acquisition, the Chief Executive of SAI Global, Mr Ross Wraight, said: "SAI will continue to deliver in-line with its stated growth strategy and management remained focused on integrating the recent businesses SAI has acquired."
It is expected that the shares issued under the Conditional Placement will commence trading on Wednesday 14 June 2006, taking SAI's shares on issue to approximately 140 million.
SAI is also conducting a share purchase plan (SPP) under which existing shareholders as at 3 May 2006 may purchase up to A$5,000 worth of shares at a closing price of A$3.00. The closing date for acceptance under the SPP is 5pm on 16 June 2006.
Contact
Media & Investor Inquiries
Tom Godfrey - SAI Global
TEL: +61 2 8206 6863
MOB: +61 414 191 034
Email: tom.godfrey@sai-global.com
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