viewAeris Resources Ltd

Aeris Resources completes retail component of $40 million entitlement offer

Funds raised will partly fund the cash consideration for the acquisition of Cracow gold mine and associated costs.

Aeris Resources Ltd - Aeris Resources receives strong support from shareholders raising $40 million and completing pro-rata entitlement offer
The retail book-build is being conducted on June 25 and results will be announced on June 26

Aeris Resources Ltd (ASX:AIS) has completed the $2.59 million retail component of its 2.02 for 1 accelerated pro-rata entitlement offer which has raised $40 million.

The retail entitlement offer received strong support from existing shareholders, with a total of more than 86 million applications received for almost A$2.59 million, representing a take-up rate of about 26%.

Additionally, applications totalling around A$191,696 were received from eligible retail shareholders in respect of new shares under the retail entitlement shortfall facility.

Together with the institutional placement and the institutional component of the entitlement offer, the total amount raised is around A$40 million with funds to partly fund the cash consideration for the acquisition of Cracow gold mine and associated costs.

Details of the retail bookbuild

Approximately 246,933,258 entitlements, representing those retail entitlements which were not taken up under the retail entitlement offer or entitlements which would have been issued to ineligible retail shareholders, will be offered for sale in the retail shortfall bookbuild.

When electing to take up their entitlement under the retail entitlement offer, all shareholders had the opportunity to elect to take up shortfall shares under the retail entitlement shortfall facility.

New shares dispatched on July 1

Approximately 333.258 million new shares under the retail entitlement offer are expected to be issued on July 1 and will rank equally with existing Aeris shares on issue.

Holding statements are expected to be despatched on July 2, 2020.

Quick facts: Aeris Resources Ltd

Price: 0.041 AUD

Market: ASX
Market Cap: $76.8 m

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