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LONDON - Future Metals NL (ASX | AIM:FME), a mining company, has announced additional details of its entitlement offer for Depositary Interest (DI) holders. The offer is designed to raise approximately A$2.64 million (about £1.28 million) before expenses and has been partially underwritten.
Eligible DI holders can subscribe for one new share for every three existing shares they hold, at a price of 0.53 pence per new share. To qualify, DI holders must be registered as of 5:00 pm AWST (10:00 am BST) on the record date of Monday, May 12, 2025, and meet certain other conditions related to their geographic location and securities laws.
Approximately 239.6 million new shares will be issued under the entitlement offer. The offer is structured similarly to an open offer in the United Kingdom (TADAWUL:4280), meaning that the rights to subscribe cannot be traded, and any unsubscribed shares will not be sold or placed for the benefit of shareholders who do not apply.
The entitlement offer’s key dates include the ex-entitlement date of May 9, 2025, and the latest time for settlement of relevant CREST instructions by 5:00 pm AWST (10:00 am BST) on May 30, 2025. The results will be announced on June 6, with the admission of new shares to trading on the ASX and AIM expected on June 10, 2025.
Future Metals has made it clear that the entitlement offer is not available in the United States or to any person acting for the account or benefit of someone in the United States. The company has advised DI holders requiring assistance to contact Computershare Investor Services for further information.
This news is based on a press release statement from Future Metals NL.
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