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BRIEF-Estia Health undertakes entitlement offer of $136.8 mln
December 12, 2016 / 1:41 AM / 9 months ago

BRIEF-Estia Health undertakes entitlement offer of $136.8 mln

Dec 12 (Reuters) - Estia Health Ltd

* Underwritten entitlement offer of $136.8 million announced

* No interim dividend to be paid for first half of fy17 and dividend policy revised to pay at least 70% of npat

* Estia will undertake an underwritten 1-for-3 accelerated non-renounceable entitlement offer at $2.10 per new share

* Estia shares have been placed in a trading halt pending announcement regarding outcome of institutional entitlement offer

* In current operating environment its optimal maximum leverage position should be in range of 1.5x - 1.8x ebitda

* Asx alert-asx announcement - entitlement offer-ehe.ax

* Proceeds used to reduce core debt

* Gary Weiss to succeed pat grier as estia chairman

* Estia reconfirms its fy17 ebitda guidance range of $86 - $90 million Source text for Eikon: Further company coverage:

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