MOA confirms rights issue completed

MOA Group Limited (NZX:Moa) confirms that it has this morning issued shares to applicants in its rights issue. The rights issue allowed shareholders to provide the company with additional growth capital, and followed on from the acquisition of Savor Group which settled on 1 April 2019. The Savor settlement was funded by a $5.5M bank facility with BNZ and a $3M placement to new and existing shareholders, including $750,000 from a family trust associated with Executive Chair, Geoff Ross. Raising $1.07m in additional new capital from the rights issue, Geoff Ross says "The company is thrilled with the on-going support from shareholders and the result of the rights issue. We have a strong set of shareholders we look forward to continue building MOA with." MOA has also issued shares for director fees and to employees who have exercised employee share options. End CA:00333215 For:MOA Type:SECISSUE Time:2019-04-10 10:54:27