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Lithium Australia NL closes SPP, thanks loyal shareholders

Lithium Australia NL (ASX:LIT) closed its share purchase plan (SPP) yesterday which had the capacity to raise up to $12.64 million before expenses.

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LIT has closed its share purchase plan.

Eligible shareholders were able to acquire between $2,000 and $15,000 worth of fully paid ordinary shares without incurring brokerage or any other transaction costs, irrespective of the size of their shareholding.

The offer was priced at $0.18 and current indications are that shareholders have subscribed to an estimated 15% of the facility available.

Adrian Griffin, managing director, commented: “Lithium Australia recognises it is often difficult for retail investors to take advantage from discounted capital raisings which, in the most part, remain the realm of sophisticated and professional investors. 

“This SPP has given participants the opportunity to buy at a discount to market and without brokerage. It is a continuation of our policy to reward our very supportive and valued shareholder base.

“We appreciate the response from our loyal shareholders.”

Quick facts: Lithium Australia NL

Price: 0.13 AUD

ASX:LIT
Market: ASX
Market Cap: $116.63 m
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