The successful completion of a $40 million fully underwritten Institutional Placement, offer has been revealed by GUD Holdings Limited. The offer is due to the Company's plans to acquire Dexion Limited. The offer was oversubscribed and received strong support from both the existing Australian investors, apart from foreign institutional investors.

The shares of GUD Holdings Limited are priced at $8.30 per share. The Company has confirmed its plans of offering qualified shareholders an opportunity to purchase shares as per Share Purchase Plan .It expects to raise $15 million from this plan.

The special Share Purchase Plan (SPP) will start from July 5 and is expected to be in place till late July.

The Company's share prices were down by 14c at $8.51. Its shares were placed under a trading halt before the beginning of trade this morning.