ATH shareholders to confirm participation in offer to buy more shares

Present shareholders in Amalgamated Telecom Holdings (ATH) have until next month (June 18, 2020) to confirm their participation in an offer by the company for them to buy more shares.

This was announced by ATH on the South Pacific Stock Exchange this week.

“Amalgamated Telecom Holdings Limited announced on April 20, 2020, that ATH was undertaking a 1:6.66 pro rata non-renounceable rights issue of approximately 63,379,109 fully paid ordinary shares to raise approximately $126,760,000. The price of new shares under the Offer is $2.00 each,” ATH said.

“The Offer has been made to all shareholders of the Company named on its register of members on the Record Date being on or before 5pm on May 8, 2020.

An Entitlement and Acceptance Form has been despatched to all shareholders together with the Offer Document. The Rights Issue Offer opens tomorrow, 19 May 2020 and closes at 5pm on June 18, 2020 (unless extended).”

ATH top two shareholders according to its offer document are the Fiji National Provident Fund (72.2 per cent) and the Fiji Government (17.2 per cent).

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