Heartland Group Holdings (ASX: $HGH) completion of institutional entitlement offer and placement

Heartland Group Holdings Limited (Heartland) (ASX: $HGH) has successfully completed the institutional entitlement offer component (Institutional Entitlement Offer) of its NZ$105 million underwritten 1 for 6.85 pro-rata accelerated non-renounceable entitlement offer (Entitlement Offer) and its NZ$105 million underwritten placement (Placement) announced on 8 April 2024. A total of NZ$210 million will be raised under the Entitlement Offer and Placement.

Executive Commentary on Completion of Institutional Entitlement Offer and Placement

Heartland Group Holdings Limited is pleased to announce the successful completion of the institutional entitlement offer and placement. We are grateful for the strong support from our existing institutional shareholders and the confidence shown by new institutional investors. The completion of this offer and placement will enable us to raise a total of NZ$210 million, which will contribute to our strategic initiatives and corporate development. We are looking forward to the retail entitlement offer and are committed to providing further value to our shareholders.

Summary of Heartland Group Holdings (ASX: $HGH) Announcement

Heartland Group Holdings Limited (ASX: $HGH) has successfully completed the institutional entitlement offer and placement, raising gross proceeds of approximately NZ$131 million. The completion of this offer and placement will contribute to the company's financial position and support its strategic initiatives. The retail entitlement offer is set to open on Thursday 11 April 2024, providing eligible retail shareholders with an opportunity to participate. Heartland Group Holdings remains focused on delivering value to its shareholders and is committed to its corporate development and growth strategy.