PERTH: Breville Group Limited announced the successful completion of the A$10 million underwritten Share Purchase Plan (SPP) it announced on Wednesday, 13 May 2020.

The SPP follows the successful completion of Breville’s fully underwritten A$94 million placement to eligible institutional investors. The SPP and placement were both undertaken at an issue price of A$17/share.

Commenting on the outcome of the SPP and the Placement, Breville’s Chief Executive Officer Jim Clayton said: “We are very pleased with the demonstration of support under both the SPP and the Placement, and are delighted that both retail shareholders and institutional investors have had the opportunity to participate in this capital raising exercise. The successful completion of our capital raise positions Breville to continue investing in growth including product development, marketing and the international expansion that has underpinned our accelerated EBIT growth over the last 5 years.”

The SPP offer closed with Breville receiving valid applications under the SPP totalling approximately A$54.7 million from approximately 3,104 eligible beneficial shareholders of Breville, with an average application amount of A$17,611. The applicants to be allotted shares under the SPP held 12.04% of Brevile at the record date of Wednesday, 13 May 2020. The number of applicants represents a participation rate for the total number of eligible registered shareholders of approximately 44.25%.