destra Corporation Limited (destra) advises that the 5 for 11 Non-Renounceable Rights Issue closed at 5pm (Adelaide time) on 16 April 2008 and a total of 150,497,569 shares will be allotted on 24 April 2008.
The issue has raised approximately $15.0M before costs with the proceeds used to retire debt and provide destra with additional working capital for building its business.
Existing shareholders have taken up total entitlements to 33,128,940 shares. The underwriter, Prime Media Group Limited (Prime Media), has taken up the balance of 117,368,629 shares in addition to its proportional entitlements.
Following the allotment of the new shares, destra will have 481,592,221 shares on issue. Prime Media will hold 211,720,327 shares equivalent to 43.96% of the total shares on issue.