logo-loader
viewA-Cap Resources Ltd

A-Cap Resources substantial shareholder China Growth Minerals ups stake to 21.22%

project_map_358x266_53915a4d7314e.jpg

A-Cap Resources (ASX:ACB) substantial shareholder China Growth Minerals Limited has increased its interest to 21.22% to 19.99%.

China Growth had acquired 8,785,715 shares for $483,214 through the company’s entitlement offer while its parent Ansheng Investment acquired 6,071,429 shares for $333,929.

This brings their total shareholding up to 66,857,144 shares.

The company had offered shareholders 1 new share for every 3.5 shares, or 81,824,282 shares to raise $4.48 million.

Shareholders had applied for 28,729,321 shares, while Ansheng will subscribe for the remaining shares as part of the underwriting agreement.

Funds from the offer and the earlier $1.32 million placement will enable critical path drilling, process design and environmental work at its Letlhakane Uranium Project in Botswana to commence immediately.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: A-Cap Resources Ltd

Price: 0.01 AUD

ASX:ACB
Market: ASX
Market Cap: $8.72 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Proactive Research analyst Ryan Long talks tin and the differing types of...

Proactive Research analyst Ryan Long lifts the lid on tin, a metal which he says doesn’t get too much attention from investors but is likely to be incredibly significant to the Energy Transition. Tin's an important metal used in longstanding industrial products such as tin solder, tin based...

15 hours, 36 minutes ago

2 min read