Lynas Corporation Limited (ASX: LYC, OTC: LYSDY) (Lynas or the Company) today
announced that it has successfully completed the recently announced share purchase plan
to raise A$20 million (SPP).
The SPP was heavily oversubscribed with strong demand from Lynas shareholders in
Australia and New Zealand.
Commenting on the success of the SPP, Lynas? Executive Chairman, Mr Nicholas Curtis
said, ?We are delighted with the strong support shown by Lynas shareholders. The level of
oversubscriptions indicates strong support for Lynas? Rare Earths focused growth strategy?.
Lynas received applications for approximately A$58.9 million worth of new fully paid ordinary
shares (New Shares). Lynas has scaled back the SPP in accordance with the terms of the
SPP, to approximately A$20 million. Under the scale back, all eligible shareholders who
applied for shares will receive approximately 828 New Shares. A total of approximately
9,756,324 New Shares will be allotted under the SPP on 3 May 2011 at the issue price of
$2.05. The company intends to lodge an Appendix 3B with the final allotment details by
10.00 am tomorrow, following verification of the final figures. Excess application payments
will be refunded, without interest, as soon as practicable after the allotment date.
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