(MENAFN- ABN Newswire)
On 15th July 2020, Classic Minerals Limited (ASX:CLZ) announced its intention to undertake an offer of fully-paid ordinary shares in the Company (Shares) to eligible shareholders under a share purchase plan at an issue price of $0.00196 per Share to raise up to $4.0 million (SPP Offer).
The SPP Offer allows Eligible Shareholders to subscribe for up to $30,000 worth of new Shares, irrespective of the size of their shareholding, without incurring brokerage or other transaction costs. The SPP Offer is only available to Eligible Shareholders who were registered as holders of fully paid ordinary shares in the Company as at 5:00pm (WST) on 14th July 2020 and whose registered address is in Australia or New Zealand.
Participation in the SPP Offer is open to Eligible Shareholders, including Eligible Shareholders who are custodians on behalf of Eligible Beneficiaries. All Shares issued under the SPP Offer will rank equally with existing Shares. The right of Eligible Shareholders to participate in the SPP Offer is not transferable.
The issue price of the SPP Offer represents a 19.6% discount to the volume-weighted average trading price of the Company's shares on the Australian Securities Exchange (ASX) during the 5 trading days immediately prior to the announcement date of the SPP Offer, and is a 34.7% discount to the closing price of the Company's Shares on ASX on the last trading day immediately prior to the announcement date of the SPP Offer.
The SPP Offer opens on Wednesday 15th July 2020 and is expected to close at 5:00pm (Perth time) on Thursday 30 July 2020 (Closing Date). However, Classic reserves the right to close the SPP Offer early in the event that it is oversubscribed.
To view full details, please visit:
https://abnnewswire.net/lnk/4211V2PI
Classic Minerals Ltd ( ASX:CLZ ) is an exploration and development company focused on gold deposits in Western Australia's famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).
Classic Minerals LtdT: +61-8-6305-0221E: W: www.classicminerals.com.au
MENAFN1407202001110000ID1100485101
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.