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STELLAR RESOURCES LIMITED — Capital/Financing Update 2020
Oct 8, 2020
65860_rns_2020-10-08_6760e25d-2bd8-4c20-808d-c60a238fdbb6.pdf
Capital/Financing Update
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9 October 2020
Entitlement Offer Results
Capital Structure
Shares: 469,987,168 Share Price (SRZ): 1.5 c Unlisted Options: 37,000,000 Share Rights 5,161,190
The Board of Stellar Resources Limited (ASX: SRZ, “Stellar” or the “Company” ) is pleased to announce that that the Non-Renounceable Entitlement Offer ( Entitlement Offer ) announced by the Company on 14 September 2020 closed at 5:00 pm (AEDT) on Tuesday, 6 October 2020.
Commodity
Tin Price: US$18,155/t Gold Price: US$1,896/Oz Exchange Rate US$ 0.72
The Company received applications for 85,741,194 new fully paid ordinary shares (Shares) amounting to total subscription of $857,411.94. The Underwriter being Taylor Collison Limited ( Taylor Collison ) has exercised its right to apply for all shortfall shares.
Main Shareholders
European Investors 16.5% Capetown SA 14.1%
Below is a table outlining the effects of the Entitlement Offer on the capital structure of the Company:
Board & Management
Simon O’Loughlin Non-Executive Chairman Simon Taylor Non-Executive Director
Thomas Whiting Non-Executive Director
Gary Fietz Non-Executive Director
Melanie Leydin Company Secretary
| Event | No. Of shares |
|---|---|
| Shares currently on issue | 469,987,168 |
| Maximum shares offered under the Entitlement Offer | 187,994,800 |
| Shares applied for under the Entitlement Offer | 85,741,194 |
| Shortfall shares to be allocated to Taylor Collison | 102,253,606 |
The number of shares on issue in the Company after the issue of entitlement shares will be 657,981,968.
In accordance with the timetable for the Entitlement Offer, the Company intends to issue and allot, and apply to ASX for quotation of the Shares on Tuesday, 13 October 2020.
The Directors wish to thank all shareholders for their continued support.
This announcement is authorised for release by the Board of Directors of Stellar Resources Limited.
ASX Code: SRZ
For further details please contact:
ABN 96 108 758 961 Level 17, 530 Collins Street Melbourne Victoria 3000
Australia
Telephone +61 3 9618 2540 Facsimile +61 3 9649 7200
Melanie Leydin
Company Secretary Stellar Resources Limited Tel: +61 3 9692 7222 Or visit our Website at: http://www.stellarresources.com.au