Update on capital raising and capital change notice
Cooks Global Foods Limited (NZX: CGF) is pleased to advise that it has issued 103,317,794 new ordinary shares for $3,099,534 following the recent closure of CGF’s rights issue
As part of the equity issued the trustees of the Nikau Trust, a family trust associated with Keith Jackson, converted $2 million of previously interest bearing debt into shares. The new issue included 25,475,365 shares placed to new investors in anticipation of the rights issue shortfall.
To ensure compliance with the Takeovers Code, the trustees of Nikau Trust agreed with CGF to reclassify 36,250,000 of their existing ordinary shares as non-voting shares. The non-voting shares have the same rights as ordinary shares, except the right to vote at a meeting of CGF shareholders, and such shares may be subsequently reclassified as ordinary shares by written notice to CGF.