The New Shares will be issued on the same terms as, and rank equally in all respects with, the existing fully paid ordinary shares in the Company. The allotment of the Placement is not subject to shareholder approval (other than indicated below) and will fall within the Company’s 15% placement capacity under ASX Listing Rule 7.1. Settlement is expected on or around 24 December 2019. The Company was pleased to receive the support of its Non-Executive Chairman, Jim Walker, in the placement (for 857 142 New Shares), subject to shareholder approval.
Proceeds from the Placement will be applied towards finalising the LSOP permitting and approvals process and progressing FEED and optimisation activities.
Read the article online at: https://www.worldfertilizer.com/potash/18122019/australian-potash-advances-feed-programme-for-lake-wells-sulfate-of-potash-project/