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Ridley Corporation Limited (ASX:RIC)

ALERT: Price-sensitive ASX Announcement for RIC
Current share price for RIC : $2.910 -0.11 (-3.64%)+
Announcement
Release
1 Oct 2025 9:02AM
Price at Release
$3.020
Full Release
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Summary
Ridley Corporation Limited issued Vendor Notes to Dyno Nobel as part of its acquisition of IPF Distribution. The Vendor Notes, each valued at $25,000,000, are designed to retain $50,000,000 in cash reserves for the company by avoiding immediate payment. These notes, which do not have a set maturity date, can be converted into shares or redeemed, significantly impacting the company's capital structure. The Cleansing Notice permits shares resulting from note conversions to be sold to retail investors without additional disclosure. Distributions on these notes are set to be paid semi-annually and can accumulate if deferred. This strategic financial move aligns with the company’s objectives for growth and expansion opportunities.
Key Points
  • Ridley Corporation Limited issued Vendor Notes to Dyno Nobel for $50,000,000 as part of acquiring IPF Distribution.
  • The Vendor Notes have an issue price of $25,000,000 each and no maturity date.
  • Vendor Notes can be converted into shares or redeemed by issuing a redemption notice.
  • Distributions are payable semi-annually and can accumulate if not paid.
  • The Cleansing Notice allows shares converted from Vendor Notes to be sold to retail investors without further disclosure.
  • The issue of Vendor Notes retains $50,000,000 in cash reserves for Ridley Corporation.
  • Two Vendor Notes were issued under the Vendor Note Deed Poll.
  • The capital structure of the company will be affected by the conversion of Vendor Notes, resulting in additional shares being issued.
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.