- Wynnstay said it expects its proposed acquisition of all the business and assets Carmarthen & Pumsaint Farmers Ltd to complete on or around Sept. 30.

Yesterday, Carmarthen & Pumsaint members passed a resolution to convert the society from its current status as an industrial and provident society into a private limited company.

Following this resolution, the society has obtained all the necessary approvals to effect the acquisition.

Wynnstay has subsequently proposed raising £9.0 million, before expenses, by way of a placing of 1.7 million new shares at 535p each to fund the acquisition.

The placing shares would represent about 9.11% of the company's issued share capital as enlarged by the Placing Shares. The Placing Price is at a discount of approximately 4.86 per cent. to the closing middle market price on 11 September 2013, being the last practicable date prior to the publication of this announcement. The net proceeds of the Placing are expected to be approximately £8.7 million.

At 8:21am: [LON:WYN] Wynnstay Group share price was -1p at 560p

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