Equity Raising
The Equity Raising will be conducted through a 1 for 2.20 accelerated non-renounceable entitlement offer,
resulting in the issue of approximately 219.1 million New Shares, representing approximately 45.5% of the
current issued capital of 29Metals.
The Offer price of $0.690 per share represents a:
▪ 5.6% discount to TERP of $0.731 based on the last closing price on 29 August 2023; and
▪ 8.0% discount to the last closing price of $0.750 on 29 August 2023.
Each New Share issued under the Offer will rank equally with existing fully paid ordinary shares of 29Metals.
29Metals will, upon issue of the New Shares under the Offer, seek quotation of the New Shares on the ASX.
Eligible shareholders will be invited to subscribe for 1 New Share for every 2.20 29Metals shares held, as at
7:00pm (Sydney time) on 1 September 2023 (‘Record Date’). The Entitlement Offer is non-renounceable, and
entitlements will not be tradeable or otherwise transferable.
29Metals’ largest shareholder, EMR Capital Investors, which has an interest in 44.85% of 29Metals’ shares, is
fully supportive of the Equity Raising and will subscribe for $67.8 million of New Shares as part of the Equity
Raising4
.
All Directors intend to participate in the Entitlement Offer in respect of shares they hold5
.
Macquarie Capital (Australia) Limited and Jarden Securities Pty Ltd (‘Underwriters’) are acting as joint lead
managers, bookrunners and underwriters to the Equity Raising.
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Last
37.5¢ |
Change
0.025(7.14%) |
Mkt cap ! $263.1M |
Open | High | Low | Value | Volume |
36.5¢ | 38.5¢ | 36.3¢ | $611.6K | 1.642M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 26454 | 37.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
38.5¢ | 104452 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 13142 | 0.370 |
2 | 10055 | 0.360 |
2 | 58169 | 0.355 |
3 | 183537 | 0.350 |
2 | 50000 | 0.345 |
Price($) | Vol. | No. |
---|---|---|
0.385 | 48511 | 3 |
0.390 | 90000 | 2 |
0.395 | 170000 | 1 |
0.400 | 8911 | 1 |
0.420 | 61770 | 3 |
Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
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29M (ASX) Chart |