Western Areas raises SPP cap
PERTH (miningweekly.com) – Nickel miner Western Areas on Tuesday increased the cap of its planned share purchase plan (SPP) from A$10-million to A$15-million, after applications for the SPP exceeded A$20-million.
The SPP formed part of a greater capital raise announced at the end of March this year, under which Western Areas hoped to raise up to A$70-million through an SPP and share placement to buoy the company through the current low nickel price.
MD Dan Lougher said on Tuesday that, following careful consideration, the Western Areas board, in recognition of the substantial retail investor demand, had decided to increase the SPP cap.
Shareholders partaking in the SPP would be allowed to subscribe for up to A$15 000 in Western Areas' new shares, with the shares issued at a price of A$2 each.
“The company would like to thank shareholders for their continued strong support, which ensures Western Areas maintains a robust debt-free balance sheet with the ability to fund prudent development and growth initiatives,” said Lougher.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation