Share Placement
:
The Board of PepinNini is pleased to announce the placement of 26 million
ordinary fully paid shares in the Company, at 5.8 cents per share, raising a total
of $1,508,000 before costs. The placement represents 5.4% of PepinNini’s preplacement
undiluted capital or 5.1% of post placement capital on a diluted
basis.
The placement has been made to sophisticated investors including one
introduced by Tarek Omar head of strategic ventures at Royce Stone Pty Ltd.
Directors are encouraged by the level of interest registered and thank
shareholders for their continued support.
Proceeds from the capital raised will be used to progress the company’s Salta
Lithium Project in Argentina.
In accordance with Listing Rule 3.10.3, the Company provides the following
details of the placement shares:
Class of Securities Fully paid ordinary shares
Number to be Issued: 26,000,000
Principal Terms of Securities The shares will carry standard rights
applicable to quoted ordinary shares in
the Company and will, from the date of
issue, rank equally with fully paid quoted
ordinary shares currently on issue.
Issue Price : 5.8 cents
Purpose of Issue : Funds raised will be used to progress the
company’s Salta Lithium Project in
Argentina.
Shareholder Approval : The Company will not seek shareholder
approval prior to the issue of the
26,000,000 placement shares, as the
placement is being made under the
Company’s 15% placement capacity and
therefore approval for this issue is not
required by the Listing Rules. The
Company intends to subsequently seek
approval of this issue at a general
meeting pursuant to Listing Rule 7.4
(subsequent approval of issue of
securities).
Issue to Class : The issue is not being made to a class of
security holders. The shares will be
quoted as ordinary securities on the ASX
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Open | High | Low | Value | Volume |
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1 | 30000 | 0.082 |
4 | 168000 | 0.080 |
1 | 63291 | 0.079 |
3 | 115923 | 0.078 |
Price($) | Vol. | No. |
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0.090 | 172580 | 2 |
0.100 | 59122 | 1 |
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