It's a Capital Raising, see details below.
------------------------------------------------------------------
In accordance with ASX Listing rule 17.1, Australian Mines Limited (“Australian Mines” or “the Company”) requests a trading halt for its securities, pending the release of an announcement with regards to a capital raising.
The capital raising will comprise a Placement of new shares to professional and sophisticated investors as well as a proposed Rights Issue to Australian Mines’ shareholders as at the Record Date, which will be done at the same issue price as the Placement.
The Company requests that the trading halt end on the earlier of the commencement of normal trading on Monday 4 April or when the anticipated announcement referred to above is released to the market.
The Company is not aware of any reason why the trading halt should not be granted, nor of any other information necessary to inform the market about the trading halt.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)