Evolve shares halted ahead of completion of capital raise and placement of new shares

Evolve Education Group has requested its shares be halted from trading on the NZX and ASX ahead of the completion of a capital raising exercise and the consequent placement of new shares.

The Group expects to be in a position to make an announcement regarding the outcome of the raise, including amount raised and at what price, prior to the commencement of trading on 6 April 2021.  

This latest news comes in the wake of the Group confirming a change in leadership at its New Zealand operations and also the settlement of five early education and care centres in australia. 

From a strategic perspective the growth of the Australian network is a priority for Evolve with the new funds raised expected to be allocated to acquiring additional centres to add to its current network which is composed of 15 settled centres and five further centres expected to settle by May 2021. 

Evolve also has a network of around 110 centres in New Zealand.