https://www.miningweekly.com

Lithium Australia hopes to raise A$12.6m

6th October 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Perth-based Lithium Australia could raise up to A$12.6-million under a share purchase plan (SPP).

Shareholders registered in Australia and New Zealand will be eligible to take part in the SPP, and will have the opportunity to acquire a minimum of A$2 000 and a maximum of A$15 000 worth of new shares.

The new shares will be priced at 18c each, with the offer price representing a 14% discount to the company’s five-day volume-weighted average share price.

Lithium Australia MD Adrian Griffin said on Thursday that the company had maintained a policy of creating real value for shareholders, adding that this had been achieved by fostering shareholder support through bonus issue of contributing shares.

“Lithium Australia recognises it is often difficult for retail investors to take advantage from discounted capital raisings, which in the most part, remain in the realm of sophisticated and professional investors. With that in mind, we have decided to offer those shareholders on the register, at the close of business on October 5, the opportunity to expand their holding at a discount to market, by way of this SPP.”

The SPP will close on November 7, and will not be subject to shareholder approval.

Lithium Australia is developing disruptive lithium extractive technologies, and recently completed a successful pilot plant campaign of its Sileach process to recover lithium from silicates.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.055 0.941s - 128pq - 2rq
Subscribe Now