IBA Health in the news
IBA successfully completes its pro-rata entitlement offer
14 Apr 2009
The Manager 14 April 2009
Company Announcements Office
Australian Securities Exchange
IBA SUCCESSFULLY COMPLETES ITS PRO-RATA ENTITLEMENT OFFER
IBA Health Group Limited (“IBA”) has successfully completed its 2 for 7 accelerated non-renounceable entitlement offer, raising a total of approximately $123.6 million.
The entitlement offer comprised an institutional component, an offer to eligible retail shareholders and a convertible note offer.
The institutional component of the entitlement offer was completed on 12 March 2009 and raised approximately $83.5 million.
The retail component of the entitlement offer closed at 5pm on 6 April 2009 and raised approximately $32.9. million (from a maximum of approximately $40.2 million).This included applications for entitlements of approximately $26.1 million and applications for additional new shares of approximately $6.6 million.All applications for additional new shares were accepted.Final allocations are subject to a reconciliation and audit process currently being conducted by IBA’s share registry.
IBA has also raised $7.2 million from the 2 for 7 rights offer of convertible notes.
IBA Executive Chairman & CEO, Gary Cohen, said: "We are very pleased that our shareholders have overwhelmingly supported our business by backing this capital raising. Having significantly strengthened our balance sheet, and removed the most expensive part of our debt, we are now in a commanding position to take advantage of the growth opportunities open to us as one of the biggest health IT companies in the world."
Allotment of the new shares to be issued under the retail entitlement offer will be completed by Wednesday 15 April 2009. The new shares will commence trading on ASX on Thursday 16 April 2009. Holding statements will be despatched to participants no later than Thursday 16 April 2009.
For more information please contact the IBA Health Shareholder Information Line on 1300 723 862 (local call cost within Australia) or +61 3 9415 4262 (from outside Australia) at any time from 8:30am to 5:30pm (AEDT) Monday to Friday.
Yours sincerely
Howard Edelman
General Counsel and Company Secretary
About IBA Health Group
IBA Health Group Limited (ASX-IBA) is the largest health information technology company listed on the Australian Securities Exchange, and trades globally under the name ‘iSOFT’.
IBA builds software applications for healthcare. We work with healthcare professionals to design and build solutions that answer all of the difficult questions posed by today’s care delivery challenges. Our solutions act as a catalyst for change, supporting the free exchange of critical information across diverse care settings and participant organisations. We are the leader in the provision of advanced application solutions in modern healthcare economies around the world
Today, more than 13,000 provider organisations in 37 countries across five continents use IBA’s solutions to manage patient information and drive improvements in their core processes. The group's sustainable development is delivered through careful planning, in-depth analysis of our market and anticipation of evolving requirements. Our business is driven by the collective talent, experience and commitment of more than 4,000 specialists around the globe, including over 1,700 technology and development professionals.
A global network of IBA subsidiaries, supported by an extensive partner network, provides substantial experience of national healthcare markets. As a result we offer our customers comprehensive knowledge of local market requirements, in terms of culture, language, working practice, healthcare regulation and organisational structure.
For more information on IBA, please visit the company’s website at www.ibahealth.com
