Salt Lake Potash Ltd - Successful Completion of Institutional Offer
AIM/ASX Code: SO4
Not for release to US wire services or distribution in
SUCCESSFUL COMPLETION OF INSTITUTIONAL OFFER
§ Successful completion of the Institutional Offer for the issue of 142.1 million new ordinary shares to raise approximately
§ The Institutional Offer was strongly supported by existing and new institutional investors from Australia and overseas
§ Both the Institutional Offer and the Retail Entitlement Offer form part of the Company's fully underwritten
The Company has successfully completed the Institutional Offer of 142,083,323 New Shares, comprising 55,410,624 New Shares to be issued under the Institutional Entitlement Offer and 86,672,699 New Shares to be issued under the Placement (Placement Shares). The New Shares in the Company being issued under the Institutional Offer are expected to be issued on
The Placement Shares will be issued under Listing Rule 7.1 (51,447,505 shares) and Listing Rule 7.1A (35,225,194 shares). The Company has relied on temporary capital raising relief (ASX Class Waiver) which, amongst other things, permits it to include in its calculation of placement capacity for the purposes of ASX Listing Rule 7.1 the number of shares that are to be issued under the underwritten pro-rata entitlement offer. The ASX Waiver permitted the Company to issue an additional 16,560,273 Shares under the Placement. Following the issue of the Placement Shares the Company will have no remaining capacity under Listing Rule 7.1 and Listing Rule 7.1A.
Retail Entitlement Offer
The retail component of the Entitlement Offer will open on
Eligible retail shareholders who have applied for their entitlement under the Retail Entitlement Offer will also be entitled to apply for additional New Shares over and above their entitlement with a right to apply for up to a maximum of 50% above their entitlement, subject to the Board's discretion to scale back applications for additional New Shares in accordance with the allocation policy to be detailed in the Retail Offer Booklet.
The Retail Offer Booklet, accompanied by a personalised entitlement and acceptance form, will be dispatched to eligible retail shareholders by no later than Friday,
The voluntary halt of trading of the Company's shares on ASX was lifted prior to the opening of trade on
Settlement and Dealings
Application will be made to the AIM Market of
Total Voting Rights
For the purposes of the
The following directors have subscribed for shares under the Institutional Entitlement Offer:
Shares subscribed for
Percentage of voting rights
For further information please visit https://www.so4.com.au/asx-announcements/ or contact:
Tony Swiericzuk / Richard Knights
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Tel: +61 8 6559 5800
Colin Aaronson / Seamus Fricker
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Tel: +44 (0) 20 7383 5100
Derrick Lee / Peter Lynch
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Tel: +44 (0) 131 220 6939
Rupert Fane / Ernest Bell
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Tel: +44 (0) 20 7907 8500
This announcement has been authorised for release by the Board of Directors.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Not for release to US wire services or distribution in the United States.
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
Forward Looking Statements
This announcement may include forward-looking statements. These forward-looking statements are based on
This information is provided by RNS, the news service of the
Quick facts: Salt Lake Potash Ltd
Market Cap: £166.81 m
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