Transaction Structure
CAI is seeking to raise A$30 million via a single tranche Share Placement by issuing 58.8 million shares at A$0.51 per share (the "Offer"). CAI reserves the right to accept over-subscriptions. The Offer price represents the following discounts:
- 12.8% discount to the last close
- 15.6% discount to the 5-day VWAP
- 13.6% discount to the 30-day VWAP
The Company's largest shareholder, Alkane Resources Ltd (12.7%) intends to subscribe for $1 million under the Offer.
CAI will also undertake a non-underwritten A$5.0 million Share Purchase Plan (SPP). The JLM's are not managing or otherwise involved in the SPP.
Blue Ocean Equities Pty Limited and Euroz Securities Limited have been appointed to act as Joint Lead Managers and Bookrunners to the Offer. Euroz will act as settlement agent.
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