Pick N Pay Stores Ltd JSE:PIK:
RESULTS OF SUCCESSFUL PLACEMENT OF BOXER RETAIL LIMITED ORDINARY SHARES
PICK N PAY WILL CONTINUE TO HOLD APPROXIMATELY 53.1% OF BOXER'S TOTAL ISSUED ORDINARY SHARES
SUCCESSFUL PLACEMENT OF 57.3M BOXER ORDINARY SHARES , REPRESENTING ABOUT 12.5% OF TOTAL ISSUED ORDINARY SHARES OF BOXER
PLACEMENT SHARES WERE PLACED AT A PRICE OF R82.00 PER SHARE
PLACEMENT RAISED PROCEEDS OF ZAR4.7 BILLION FOR PICK N PAY
INTENDS TO DEPLOY NET PROCEEDS FROM PLACEMENT TO SUPPORT ONGOING IMPLEMENTATION OF ITS TURNAROUND PLAN AND GROWTH STRATEGY