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Acrow Limited (ASX:ACF)

ALERT: Price-sensitive ASX Announcement for ACF
Current share price for ACF : $0.910 -0.01 (-1.09%)+
Announcement
Release
23 Jul 2026 8:43AM
Price at Release
$0.920
Full Release
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Summary
Acrow Limited announced the successful completion of its Share Purchase Plan (SPP), raising $16 million from applications of approximately $21 million by around 1500 eligible shareholders. The SPP was fully underwritten to $10 million but exceeded expectations, prompting the Board to accept $6 million over the underwritten amount to reward shareholder support and apply additional funds towards debt repayment. Approximately 18.8 million new shares will be issued at $0.85 per share. Due to oversubscription, applications were scaled back on a pro-rata basis, and shareholders will be informed of their allocation. The new shares are slated for issuance on 23 July 2026, with trading to commence on 27 July 2026. Tranche 2 of the Placement remains subject to shareholder approval at the EGM on 29 July 2026.
Key Points
  • Share Purchase Plan (SPP) completion with $16 million raised.
  • SPP was underwritten to $10 million but received $21 million in applications.
  • Approximately 1500 eligible shareholders participated with a 21% participation rate.
  • Board decided to accept $6 million over the underwritten amount.
  • Funds raised will be used for debt repayment.
  • 18.8 million new shares to be issued at $0.85 per share.
  • Applications were scaled back due to oversubscription.
  • New shares to be issued on 23 July 2026, trading to begin on 27 July 2026.
  • Tranche 2 of the Placement requires shareholder approval at the EGM on 29 July 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.