Established Australian copper producer and explorer, Aeris Resources has announced that current substantial shareholder, Tudor Court has purchased 83,665,000 Convertible Redeemable Preference Shares (CPRS) from Standard Chartered Bank (SCB), taking Tudor Court’s overall holding, once the CRPS have been converted to ordinary issued shares, to ~19.9% of total issued share capital.
Tudor Court to acquire ~86.7 million Convertible Redeemable Preference Shares (CRPS) from Standard Chartered Bank (SCB)
Tudor Court to convert the CRPS to ordinary issued shares, bringing total holding to 19.9%
Aeris to redeem and cancel the remaining CRPS (~9.7 million) from SCB for US$1.00
Aeris assisted SCB and Tudor Court in the transaction and will also redeem and cancel the remaining CPRS held by SCB (9,745,609) for US$1.00.
Tudor Court director, Mr David Toms, has a long history with Aeris Resources, having been a shareholder and founding member of the Board of Straits Resources Limited (now Aeris) from 1994 until 2007.
Aeris Resources Executive Chairman, Andre Labuschagne said he was delighted to welcome Mr Toms and Tudor Court back onto the register.
“The increase of Tudor Court’s share to 19.9% is a welcome show of confidence for Aeris’ growth strategy and we look forward to their continued support as a major shareholder.”
“Additionally, the redeeming and cancelling of the remaining CRPS for a nominal amount will be accretive to all shareholders and further simplifies our capital structure.”