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EMU NL — Capital/Financing Update 2024
Jun 3, 2024
64851_rns_2024-06-03_8d55fe9c-3fbc-4c37-9bc5-af0016b12024.pdf
Capital/Financing Update
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ASX RELEASE | ASX:EMU
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4 June 2024
Pro Rata Non-Renounceable Rights Issue and Revised Timetable
Emu NL ( EMU or the Company ) is pleased to announce that it has lodged a prospectus in respect of a fully underwritten 3:5 non-renounceable rights issues (“ Rights Issue ”) at $0.025 to raise up to approximately an additional $1.2 million (before costs) (ASX Release 29 May 2024).
The funds raised will assist with further exploration within the Georgetown Project QLD, with a focus at the Fiery Creek Copper Prospect, including advanced field work, geochemistry, geophysics, potentially a short maiden drilling program, and general working capital.
Details of the Capital Raise
Non-Renounceable Rights Issue
The pro-rata non-renounceable rights issue to raise up to approximately A$1,200,138 from the issue of up to ~48,005,533 new fully paid ordinary shares.
The Offer is fully underwritten by Martin Place Securities Pty Limited ( MPS ).
Details of the Rights Issue
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The Rights Issue Offer, to be made pursuant to a transaction specific prospectus, will be open to all EMU shareholders on the register with an Australian or New Zealand address at 5.00 (pm) (WST) on 7 June 2024 ( Record Date ).
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For every five (5) ordinary shares held at the Record Date, three (3) Fully Paid Shares will be offered, at an issue price of $0.025 each, a discount of 24.2% to EMU’s last closing price and intended to reward Shareholders for their ongoing support.
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Shareholders may apply for additional Fully Paid Shares above their entitlement under a shortfall offer also to be made under the prospectus ( Shortfall Offer ).
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Shortfall will be allocated first by the Directors in priority to Shareholders, subject to overriding Board discretion.
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The Offer is fully underwritten by MPS, which will be paid a 2% (plus GST) fee on the Offer amount and a 4% (plus GST) fee on Fully Paid Shares as allocated by MPS and issued under the Shortfall Offer (but excluding Fully Paid Shares issued to Shareholders under the Shortfall Offer).
www.emunl.com.au [email protected]
10 Walker Avenue WEST PERTH WA 6005
ASX Code: EMU ABN: 50 127 291 927
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Prospectus and Entitlement & Acceptance Form
A prospectus setting out details of the Offer will be despatched to eligible Shareholders on or about 13 June 2024. It will be accompanied by a personalised Entitlement and Acceptance Form (or instruction on how to access a personalised Entitlement and Acceptance Form) including provision allowing for application to be made for Fully Paid Shares in excess of the applicant’s pro rata entitlement.
Revised Indicative Timetable*
| Revised Indicative Timetable* | |
|---|---|
| Date of prospectus (and lodgement with ASIC) | 4 June 2024 |
| “Ex” Date | 6 June 2024 |
| Record Date | 7 June 2024 |
| Closing date for acceptance of Allocations (5:00pm WST) | 26 June 2024 |
| Issue date, dispatch of holding statements | 2 July 2024 |
- The above dates are indicative only and are subject to change. The Directors may vary these dates before or after they pass subject to any applicable requirements of the Corporations Act or the Listing Rules. The Directors may extend the Closing Date by giving at least three (3) Business Days’ notice to ASX prior to the Closing Date. As such the date the Shares are expected to commence trading on ASX may vary.
Shareholders are strongly encouraged to ensure that their contact details (including email and phone number) are correctly registered and up to date with the Company’s Share Registry, Automic, so that the Company can correspond with you on all company related matters, including this Entitlement Offer.
Release authorised by the Board
Contact Details: Doug Grewar - Mobile: 0419 833 604 E [email protected]
NEW INFORMATION OR DATA
EMU confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, which all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not materially changed from the original market announcement.
www.emunl.com.au [email protected]
10 Walker Avenue WEST PERTH WA 6005
ASX Code: EMU ABN: 50 127 291 927
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