Australian lithium miner Core Lithium (ASX: CXO) today opened a share purchase plan (SPP) to raise up to $20 million which supplements the recently completed A$100 million fully underwritten institutional placement conducted at A$0.40 per share.
Eligible shareholders will have the opportunity to acquire up to A$30,000 worth of Core ordinary shares at an issue price of A$0.40 per share – without paying any brokerage costs, commission or other transaction costs.
The ASX has granted Core a waiver from ASX Listing Rule 7.1 to enable the SPP to be conducted at the placement price and for the new shares to be issued as an exception to Core’s placement capacity under ASX Listing Rule 7.1.
Core is targeting to raise up to approximately $20 million under the SPP. However, Core may decide to accept applications (in whole or in part) that result in the SPP raising more or less than that target amount at its absolute discretion.
The funds raised under the placement will fund the progress of BP33 early works, plant optimisation initiatives, progress the exploration program, studies and for working capital purposes. Funds raised via the SPP will be used for working capital purposes.
The SPP offer opens at 9.00am (Sydney time) on Monday 28 August 2023 and is expected to close at 5.00pm (Sydney time) on Friday 15 September 2023. To participate in the SPP, you may apply to acquire A$2,500, A$5,000, A$10,000, A$15,000, A$20,000, A$25,000 or A$30,000.
All new shares issued under the SPP will rank equally with existing shares.
Participation in the SPP is optional and is open to eligible shareholders who are holders of shares as at 7:00pm (Sydney time) on 15 August 2023 (Record Date) with a registered address on the register in Australia or New Zealand (Eligible Shareholders).
Certain eligible shareholders who are custodians holding shares on behalf of certain beneficiaries are also invited to participate in the SPP on the terms and conditions set out in the SPP Booklet. Further details are set out in the SPP terms and conditions contained in the SPP booklet, available on Core’s website at https://corelithium.com.au/announcements.
Shareholders in the United States are not eligible to participate in the SPP. Similarly, shareholders (including trustees, custodians and nominees) who hold shares on behalf of persons in the United States, or are acting for the account or benefit of persons in the United States, are not eligible to participate in the SPP on behalf of those persons.
Shareholders who may be eligible to participate in the SPP will today be e-mailed the attached SPP booklet (SPP Booklet) containing the SPP Terms and Conditions and a personalised application form (where e-mail an address has been provided to the share registry) and all eligible shareholders (not receiving-mail communications) will be sent a letter inviting them to participate in the SPP, a copy of which is attached.
Shareholders are encouraged to read the SPP Terms and Conditions carefully and, if you have any questions, please call your stockbroker, accountant or other professional adviser.
For information regarding details of the Offer, you can contact the Offer Information Line on 1300 103 392 (within Australia) or +61 2 9068 1925 (outside Australia) between 8:30am and 7:00pm (Sydney time), Monday to Friday.
Key dates:
Note: This timetable is indicative only and subject to change. Core reserves the right to alter the above dates at any time, including extending the period for the SPP or accepting late applications, either generally or in particular cases, at its discretion and without notice to you, subject to the ASX Listing Rules, the Corporations Act and any other applicable rules.
How to participate
Shareholders who are eligible to participate in the SPP can access the Terms and Conditions and their personalised application form electronically by visiting https://investor.automic.com.au/#/loginsah.
Enter you holder number SRN / HIN (confirmed on your latest Holding Statement). Enter your name and Postcode (Aust only) or Country of Residence (if not Australia). Tick box “I am not a robot”, then Access.
Once you have successfully signed in, click on “Documents and Statements” then “Other Documents”.
Important: Participants do not need to return their application form, but must make a payment via BPay® by following the personalised payment instructions on their application form.
