Shaw and Partners has been appointed as Co-Manager to the proposed capital raising by Viva Leisure Limited (ASX.VVA).

The Company is proposing to raise up to approximately $20.0m via placement of up to approximately 7.5m new ordinary fully paid shares at $2.65 per security.

The offer price represents a 8.0% discount to the last closing price of $2.88 per security on 29 November 2019 and a 5.5% discount to 10-day VWAP of $2.80 per security on 29 November 2019.

Proceeds from the offer will be used to fund the acquisition of 13 FitnFast Health Clubs and assist with accelerating new site rollouts.

The offer is available to Australian Sophisticated and Professional Investors only.

For more information please contact your Shaw and Partners Adviser