Placement and Share Purchase Plan Timing - Update
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Update to Placement and Share Purchase Plan Timing Not for release to US wire services or distribution in the United States
Aura Energy Limited (ASX: AEE, AIM: AURA) ("Aura" or "the Company") provides an update in respect of the placement and share purchase plan ("SPP") previously announced on 18 March 2024.
The Company has received an additional request from Mr Philip Mitchell, a director of the Company ("Director") who seeks to invest in the placement, to raise an additional $30,000 (subject to shareholder approval). The revised structure of the placement will be detailed in the Company's notice of meeting, to be dispatched to shareholders on or around Friday, 19 April 2024.
Other than the additional Director participation, the terms of the placement and SPP will remain unchanged.
Together with the SPP, the Company seeks to raise up to approximately $18.2 million (before costs) under its capital raising. Funds raised will be used towards:
- assisting the Company with pre-development activities at the Tiris Project in Mauritania, with a final investment decision expected in 2024 and production expected in 2026;
- supporting development of the Häggån Project in Sweden; and
- providing additional working capital.
Indicative Timetable
The Company wishes to advise that the indicative timetable for the placement and SPP has been updated as follows:
| Event | Date |
| Lodgement of Prospectus for SPP and Placement Options | Tuesday, 23 April 2024 |
| SPP Opening Date | Tuesday, 23 April 2024 |
| General Meeting to approve (amongst other matters) the issue of the Shares and Options under the Tranche 2 Placement, SPP Shares and SPP Options | Tuesday, 21 May 2024 |
| SPP Closing Date | 5:00pm (AEST) on Thursday, 23 May 2024 |
| Announcement of SPP Offer results (conditional upon Shareholder approval at the General Meeting) | Thursday, 30 May 2024 |
| Issue of Shares under the Tranche 2 Placement, Options under the Placement, SPP Shares and SPP Options (to the extent approved at the General Meeting) | Thursday, 30 May 2024 |
| Official Quotation of SPP Shares on ASX | Thursday, 30 May 2024 |
| Admission of SPP Shares and Shares under the Tranche 2 Placement on AIM | Thursday, 30 May 2024 |
| Subject to satisfying ASX requirements, Official Quotation of SPP Options and Placement Options offered under the Prospectus (noting the SPP Options and Placement Options are not being admitted to trading on AIM) | Thursday, 30 May 2024 |
Note: This timetable is indicative only and is subject to change at the Company's discretion. The commencement of trading and quotation of Placement Shares, Placement Options, SPP Shares and SPP Options is subject to confirmation from the ASX and AIM (as applicable). Subject to the requirements of the Corporations Act 2001 (Cth), the ASX Listing Rules and other applicable rules, the Company reserves the right to amend this timetable at any time, without notice.
This announcement is authorised for release by the Board of Aura Energy Limited.
Not an offer of securities
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.