Cash Converters International Ld Issue of Equity (3056S)

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RNS Number : 3056S

Cash Converters International Ld

29 November 2012

29 November 2012

Cash Converters Raises $32.7 million to Fastrack Growth

Cash Converters International Limited ("Cash Converters" or "the Company") (ASX:CCV) is pleased to advise that it has resolved to raise up to $32.7 million through a placement of 38.5 million shares at 85 cents per share ("Placement").

The Placement is being made to institutional and sophisticated investor clients of Hartleys Limited. The Placement shares will be issued pursuant to the Company's ASX Listing Rule 7.1 15% capacity.

The funds from the Placement will be used to acquire stores within the franchised network, to open new corporate stores and to finance the growth of the Australian and UK personal loan books.

Cash Converters Managing Director Peter Cumins said "the Placement was substantially oversubscribed with strong support from existing and new institutional investors. This capital raising places us in a very strong position to increase our corporate store network and to fund the fast growing personal loans books. Following our strong first quarter and the growth opportunities we see ahead, the outlook for Cash Converters is very promising".

This announcement lists the trading halt on Cash Converters Shares.

For more information contact:

Cash Converters International Limited

   Michael Cooke, Group Legal Counsel                [e-mail] 

[phone]

Charles Stanley Securities

   Dugald Carlean / Karri Vuori                               [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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