U.S.-Japan trade pact; Alphabet, Tesla to report - what’s moving markets
PERTH - Future Metals NL (ASX | AIM:FME) announced today it has completed its 1-for-3 pro-rata non-renounceable entitlement offer, raising approximately A$2.64 million (£1.28 million) before costs.
The entitlement offer, which closed on June 13, was priced at A$0.011 per new share (0.53 pence per Depository Interest) and was fully underwritten by CPS Capital Group Pty Ltd and Zeta Resources Limited.
According to the company statement, eligible shareholders contributed A$2.09 million through valid acceptances, representing approximately 79% of the total offer. The remaining shortfall of approximately 49.5 million shares, valued at A$544,103, will be taken up by the underwriters.
Zeta Resources will subscribe for 23 million shares from the shortfall, which will increase its holding to 94.8 million shares, representing 9.9% of Future Metals’ enlarged share capital. CPS Capital Group will take up the remaining 26.5 million shortfall shares.
The company has applied for admission of the 239.6 million new shares to trading on AIM, which is expected to commence on June 23. Upon admission, Future Metals will have 958.4 million shares in issue.
The entitlement offer was first announced on May 7 and detailed in a booklet released on May 15, according to the press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.