6 Jun 2012

Rubicon to offer extra shares to investors

5:39 am on 6 June 2012

Rubicon is to strengthen its financial position by offering extra shares to investors.

Under the proposed deal, Rubicon will offer shareholders 1 share for every three held at a price of 22 cents each.

That would raise about $NZ21 million.

The company says its largest shareholder, David Knott, and other investors, which together hold 31% of the company, will take up the offer.

Rubicon will also extend its existing $US20 million banking facility.