In addition to the Placement, Birimian intends to undertake a non-renounceable 1:20entitlements issue at an issue price of $0.17. Assuming the shares from the Placementannounced today are issued, the 1:20 ratio would imply that the entitlement issue wouldconsist of an offer of approximately 13,428,035 new shares (Entitlements Issue). Theprospectus for the Entitlements Issue will be lodged late January 2019 in order to giveshareholders maximum opportunity to participate. Funds raised pursuant to the Anticipated Entitlements Issue will be also be directed towardsthe Company’s wholly owned Project, consistent with the Placement.
BGS Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
