NTAW Holdings Limited (ASX:NTD) Entitlement Offer Announcement

NTAW Holdings Limited (ASX:NTD) has announced an underwritten 1 for 4 pro-rata non-renounceable entitlement offer to raise approximately $12.41 million. The offer price for the new shares is $0.37 per share. The proceeds will be used to fund working capital for the new Dunlop tyre distribution business and to cover the costs of the issue. The Entitlement Offer opens on 26 September 2024 and closes on 10 October 2024.

Executive Commentary on Entitlement Offer

The company has announced an underwritten entitlement offer to raise funds for the new Dunlop tyre distribution business. Eligible shareholders are encouraged to carefully read the Offer Booklet for further details and are advised to consult their professional adviser for any questions. The offer is non-renounceable and will not be tradeable on the ASX or otherwise transferable. Shareholders who do not take up their Entitlement in full will not receive any value in respect of those Entitlements they do not take up.

Summary of NTAW Holdings Entitlement Offer

NTAW Holdings Limited (ASX:NTD) is conducting a pro-rata non-renounceable entitlement offer to raise approximately $12.41 million through the issue of approximately 33.5 million new ordinary shares at an offer price of $0.37 per share. The offer is underwritten by Exldata Pty Ltd and is open to eligible shareholders in Australia and New Zealand. The proceeds from the entitlement offer will be used for working capital required to distribute Dunlop tyres and to meet costs associated with the offer. The company has also arranged an increase in its trade finance facility from $73 million to $93 million to fund temporary movements in working capital associated with the Dunlop business. The announcement provides a comprehensive overview of NTAW Holdings Limited, its operations, financial performance, and the upcoming Entitlement Offer.