A-Cap Resources (ASX:ACB) substantial shareholder China Growth Minerals Limited has further increased its interest to 32.58% from 21.22% through the acquisition of shortfall shares as underwriter of the recent entitlement offer.
China Growth’s parent Ansheng Investment had acquired the 53,094,961 shortfall shares for $2,920,223.
It had on 5 June increased its stake to 21.22% from 19.99% from the acquisition of shares under the entitlement offer.
A-Cap had offered shareholders 1 new share for every 3.5 shares, or 81,824,282 shares, to raise $4.48 million.
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.