Connect with us

Hi, what are you looking for?

Investing

Element 25 Share Purchase Plan Opens

Element 25 Limited (E25 or Company) (ASX: E25; OTCQX: ELMTF) is pleased to announce the opening of the E25 Share Purchase Plan (SPP) Offer.

The Company announced on 21 May 2024 it would be undertaking a SPP1. The SPP is now open to eligible Element 25 shareholders, being shareholders who had a registered address in Australia, New Zealand, Hong Kong or Germany on Element 25’s register on the Record Date (5.00pm Australian Western Standard Time on Monday, 20 May 2024) (Record Date) to apply for up to A$30,000 of new fully paid ordinary shares in Element 25 (SPP Shares) without brokerage, commission or transaction costs, subject to the terms and conditions that will be set out in the SPP Booklet.

The SPP Shares will be issued at $0.27 per share (Offer Price), representing a 14 per cent discount to the volume weighted average price (VWAP) of Element 25 shares over the last five trading days prior to the Company announcing the SPP, rounded to the nearest whole cent.

THE SPP

The SPP is offered to Eligible Shareholders who were registered as a holder of existing Element 25 shares on the Record Date. Element 25 intends to raise up to A$5 million under the SPP and retains discretion over the allocation of shares per investor. Eligible Shareholders are offered the opportunity to subscribe for a maximum of A$30,000 worth of SPP Shares at the Offer Price.

The term and conditions of the SPP are set out in the SPP Booklet which will be lodged with the ASX today, Monday, 27 May 2024. The SPP Booklet will be available today via the ASX or Element 25 websites or by containing the Company Registry, Automic Group. Eligible Shareholders will also be provided a letter from the Company along with a SPP application form. This letter and application form will be distributed by Element 25’s Registry, Automic Group. Eligible shareholders can obtain information of the SPP within the SPP Booklet and through information provided to Eligible Shareholders. All SPP releases (Letter, Applications Form, SPP Booklet and SPP Annoucements) contain important information about the SPP. Eligible Shareholders are to carefully read this information in full and consider this information before deciding whether to participate in the voluntary SPP and apply for any SPP Shares.

The SPP is not underwritten.

Click here for the full ASX Release

This post appeared first on investingnews.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    North Korea may be known as the hermit kingdom, but the isolated nation could be edging toward opening its borders to small numbers of...

    Editor's Pick

    One of the perks of being speaker of the House — or at least, one of the characteristics of it — is that you...

    Latest News

    Evacuations are underway across Hawaii’s Big Island and Maui as passing Hurricane Dora helps fuel wildfires that have damaged structures, prompted rescues and spurred...

    Latest News

    Former world No. 1 Caroline Wozniacki won her first competitive tennis match in three-and-a-half years on Tuesday, defeating Australian Kimberly Birrell 6-2 6-2 at...

    Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 balanceandcharge.com