Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Invitation to Participate in Share Purchase Plan

by February 9, 2024
February 9, 2024
Invitation to Participate in Share Purchase Plan

Galan Lithium Limited (ACN 149 349 646) (Galan or the Company) is pleased to provide details of its Share Purchase Plan (Plan).

In the ASX announcement dated 31 January 2024, entitled “A$19.5m Raising to Fund Ongoing Development of HMW Phase 1”, Galan announced an $18 million placement to institutional, sophisticated and professional investors (Placement) and a share purchase plan offer of $1.5 million to existing Galan shareholders. Under the Placement, Galan was to issue a total of 39,130,435 fully paid ordinary shares in the Company at $0.46 per share along with 39,130,435 free attaching listed options (exercisable at $0.65 with a 5-year exercise period)(Options).

The Company raised $16.5 million (before costs) and issued an initial 35,869,565 fully paid ordinary shares in the Company on 6 February 2024. The issue of the 35,869,565 free attaching Options will follow in due course. Additionally, some of Galan’s directors will be subscribing for up to 3,260,870 fully paid ordinary shares along with up to 3,260,870 free attaching Options on the same terms raising a total of up to $1.5 million (before costs) in a second tranche that will be subject to shareholder approval at a forthcoming general meeting.

The offer under the Plan (Offer) will be on the same terms as the Placement for the issue of up to 3,260,870 Shares at $0.46 per share (Offer Price), along with up to 3,260,870 free attaching Options to raise up to

$1.5m on the terms and conditions (Terms and Conditions) of the Plan enclosed with this letter.

Under the Plan, Eligible Shareholders (defined below) will have the opportunity to purchase up to $30,000 at the Offer Price irrespective of the size of their shareholding and without incurring brokerage or transaction costs. Shares issued under the Plan will have an Offer Price of $0.46 per Share. One free attaching Option will also be issued on the basis of one (1) Option for every one (1) Share subscribed for and issued under the Plan. The Company will make an application to ASX for quotation of the Options.

The offer of Options under the Placement and the Plan will be made under a transaction specific Prospectus which is anticipated to be lodged with ASIC on 23 February 2024 and will be dispatched to Shareholders on 26 February 2024 (Prospectus).

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Awale Resources: Exploration and Discovery of Gold and Copper-Gold Deposits in West Africa
next post
Morrissey Hill Phase 2 Drilling Results

Related Posts

Analyst Deems Brightstar Resources an Active Agitator Amid...

May 20, 2024

Galena Mining Limited (ASX: G1A) – Trading Halt

January 10, 2024

Mining Leaders Call on Canada to Support Critical...

March 16, 2024

Premier1 Lithium

February 14, 2024

What Was the Highest Price for Gold?

December 4, 2023

Awalé Hits 45.7 g/t Gold over 32m at...

March 26, 2024

ChemX Materials: Developing Innovative Processing Technology to Produce...

April 23, 2024

Crypto Market Recap: Bitcoin Breaks US$100,000 as ETF...

May 10, 2025

What are Junior Miners and Are They a...

August 22, 2023

Copper Price Update: Q1 2024 in Review

April 20, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Larry Williams on the Fed, Interest Rates & Markets! What’s Next?

    • Top Sectors to Watch + The 18 SMA Setup Every Trader Should Know

    • Platinum Price Breaks Out as Chinese Demand and Global Shortfalls Ignite Rally

    • Freegold Provides Update on 2025 Drill Program

    • Coelacanth Announces Q1 2025 Financial and Operating Results

    • Silver Stocks and the Land Grab for Silver Assets

    Categories

    • Business (1,218)
    • Investing (2,493)
    • Politics (3,699)
    • Stocks (1,608)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved