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ARIKA RESOURCES LIMITED — Capital/Financing Update 2019
Oct 17, 2019
64420_rns_2019-10-17_8b1e3f76-e663-496a-b2da-8d7ac7603152.pdf
Capital/Financing Update
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ASX RELEASE: 18 October 2019
Entitlement Offer – Close of Entitlement Offer and Subscriptions
Metalicity Limited (ASX: MCT) ( Company ) advises that its non-renounceable entitlement issue of one (1) fully paid ordinary share in the capital of the Company ( Share ) for every four (4) Shares held by eligible shareholders on the record date at an issue price of $0.006 per Share, together with one (1) free attaching option (exercisable at $0.015 and expiring 12 months from the date of issue) ( New Option ) for every five (5) Shares subscribed for and issued ( Entitlement Offer ), closed at 5pm WST on 16 October 2019.
The Entitlement Offer was not underwritten.
The Company received applications to subscribe for 25,867,569 new Shares from eligible shareholders under the Entitlement Offer to raise approximately $155,205. This represents approximately 17% of all Shares offered under the Entitlement Offer. A further 19,109,401 shortfall shares were taken up to raise approximately $114,656. Total funds raised to date under the offer is approximately $270,000.
The Company advises that the results of the Entitlement Offer are as follows:
| Total number of Shares offered under the | 156,106,073 Shares |
|---|---|
| Entitlement Offer | |
| Total number of Shares applied for by eligible | 25,867,569 Shares |
| shareholders under the Entitlement Offer | |
| Shortfall Shares taken up | 19,109,401 |
| Balance Shortfall shares | 111,129,103 |
In accordance with section 4.7 of the Company’s entitlement issue prospectus dated 2 September 2019 ( Prospectus ) any entitlement not taken up pursuant to the Entitlement Offer will form the shortfall offer ( Shortfall Offer ). The Shortfall Offer is a separate offer made pursuant to the Prospectus and will remain open for up to three months following the Closing Date.
The Company is also seeking shareholder approval to allow Jason Livingstone and Justin Barton to participate in the Shortfall Offer at its upcoming annual general meeting to be held on 25 November 2019. The Shares and New Options to be issued to the Directors under the Shortfall Offer (if any) will be issued within one month of the date of obtaining shareholder approval.
ENQUIRIES
Investors Investor Relations Jason Livingstone David Tasker/ Colin Jacoby MD & CEO Chapter One Advisors +61 8 9324 1053 +61 433 112 936/ +61 439 980 359 [email protected] [email protected]
Metalicity Limited ASX Code: MCT ABN: 92 086 839 992
www.metalicity.com.au 6 Outram Street West Perth WA 6005