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ELEMENT 25 LIMITED — Capital/Financing Update 2020
Jul 22, 2020
64810_rns_2020-07-22_0d335ab5-1540-4937-9233-a7067bf65464.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
23 July 2020
Share Purchase Plan Closes Heavily Oversubscribed
Element 25 Limited (E25 or Company) is pleased to advise the Share Purchase Plan ( SPP ) announced on 6 July 2020 closed on 21 July 2020 heavily oversubscribed with the Company having received applications for over $3.2 million.
The SPP booklet outlined that the Company was seeking a target of $1.5 million from the SPP however, given the strong support shown by shareholders, the Board has decided to use its discretion under the terms of the SPP and accept all shareholder applications.
The Company will allot new shares in the capital of the Company under the SPP and would like to thank all shareholders who participated for their ongoing support and commitment.
The funds raised will allow the Company to accelerate the development of the Company’s 100% owned Butcherbird Manganese Project.
E25 Managing Director Mr Justin Brown commented, “ The fantastic response from shareholders is welcomed by the board and I would personally like to thank all participating shareholders for their strong show of support. The result balances nicely the interest of existing shareholders with those of the new shareholders who joined the register in the placement completed earlier this month.”
Yours faithfully
Justin Brown
Managing Director
Company information, ASX announcements, investor presentations, corporate videos and other investor material in the Company’s projects can be viewed at: http://www.element25.com.au.
This announcement is authorised for market release by Element 25 Limited’s Board of Directors.
Company Snapshot
ASX Code: E25 Board of Directors: Element 25 Limited is developing the world class Shares on Issue: 108M Seamus Cornelius Chairman Butcherbird Manganese Project in Western Australia to Share Price: $0.44 Justin Brown MD produce high quality manganese concentrate and high Market Capitalisation: $47.5M John Ribbons NED purity manganese products for traditional and new energy markets.
Element 25 Limited P +61 8 6315 1400 E [email protected] element25.com.au
Level 2, 45 Richardson Street, West Perth, WA, 6005 PO Box 910 West Perth WA 6872 Australia Page 1
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