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BRIEF-Metcash Announces Equity Raising Of Up To $330M

Published 20/04/2020, 11:13 am
© Reuters.
MTS
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April 20 (Reuters) - Metcash Ltd MTS.AX :

* METCASH LTD - EQUITY RAISING OF UP TO $330M

* METCASH - EQUITY RAISING REFLECTS CURRENT HEIGHTENED LEVEL OF UNCERTAINTY RELATED TO COVID-19 PANDEMIC

* METCASH - TOTAL FOOD SALES FOR FIVE MONTHS ENDED MARCH 2020 INCREASED 4.3%

* METCASH LTD - GOT $180M OF ADDITIONAL SHORT-TERM COMMITTED DEBT FACILITIES FROM EXISTING LENDERS

* METCASH LTD - SALES HAVE BEEN NEGATIVELY IMPACTED BY COVID-19 RELATED CLOSURE OF OUR NZ OPERATIONS & CLOSURE OF 'ON-PREMISE' BUSINESSES IN AUSTRALIA

* METCASH LTD - SALES GROWTH PRE COVID-19 CONTINUED IN 2H20, WITH LIQUOR SALES INCREASING 3.2% FOR FIVE MONTHS ENDED MARCH 2020

* METCASH LTD - CONTINUED FOCUS ON COSTS EXPECTED TO HELP OFFSET IMPACT OF LOSS OF EARNINGS FROM 7-ELEVEN & OTHER COST PRESSURES EXPECTED IN FY21

* METCASH - SALES TRAJECTORY PRE COVID-19 HAS CONTINUED TO IMPROVE & THERE WAS SIGNIFICANT UPLIFT IN SALES IN MARCH/EARLY APRIL

* METCASH LTD - HARDWARE SALES IN 2H20 CONTINUED TO REFLECT SLOWDOWN IN CONSTRUCTION ACTIVITY

* METCASH - SUPERMARKETS SALES INCREASED 4.8% FOR FIVE MONTHS ENDED MARCH

* METCASH LTD - TO UNDERTAKE REVIEW OF CARRYING VALUE OF ASSETS, WITH ANY IMPAIRMENTS THAT MAY BE REQUIRED REFLECTED IN FY20 FINANCIAL STATEMENTS

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