Ansell Limited (ASX: $ANN) has confirmed the successful completion of its share purchase plan (SPP) following the closing of applications on Monday, 6 May 2024. The SPP was announced in conjunction with a A$400 million fully underwritten institutional placement to eligible institutional investors. The proceeds of the Placement will be used to partially fund the acquisition of 100% of the assets that constitute Kimberly-Clark's Personal Protective Equipment business (KCPPE) from Kimberly-Clark Corporation for US$6402 million. The SPP proceeds will be used to reduce Ansell's leverage.
Ansell is pleased to announce the successful completion of the share purchase plan, which received strong support from retail shareholders. The increased SPP size from A$65 million to A$75 million reflects the overwhelming response from eligible shareholders. We are grateful for the support and are committed to utilizing the proceeds to enhance our financial position and pursue strategic opportunities, including the acquisition of Kimberly-Clark's Personal Protective Equipment business. The scale-back principles were implemented to ensure fairness and maintain shareholder percentage holdings, with approximately 98% of valid SPP applicants set to receive an amount of shares that maintains their percentage holding in Ansell held prior to the announcement of the Placement and SPP.
Ansell Limited (ASX: $ANN) has successfully completed its share purchase plan, with strong support from retail shareholders leading to an increase in the SPP size from A$65 million to A$75 million. The proceeds of the Placement will be used to partially fund the acquisition of Kimberly-Clark's Personal Protective Equipment business, while the SPP proceeds will be utilized to reduce Ansell's leverage. Approximately 3.3 million New Shares are scheduled to be issued under the SPP, with trading expected to commence on Tuesday, 14 May 2024. Ansell remains committed to maintaining shareholder fairness and utilizing the proceeds to strengthen its financial position and pursue strategic opportunities.