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VAULT MINERALS LIMITED — Capital/Financing Update 2021
Apr 12, 2021
65991_rns_2021-04-12_00b87518-aa10-47ad-bb92-24835df82d65.pdf
Capital/Financing Update
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13 April 2021
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Not for release to US wire services or distribution in the United States
Red 5 Successfully Completes Retail Entitlement Offer
Red 5 Limited ( Red 5 or the Company ) is pleased to advise that it has successfully completed the retail offer component ( Retail Entitlement Offer ) of the fully underwritten $60 million, 4 for 21 pro-rata accelerated nonrenounceable entitlement offer of new fully-paid shares ( New Shares ) announced on 17 March 2021 ( Entitlement Offer ).
The Retail Entitlement Offer, to raise approximately $20.8 million, was well supported by eligible retail shareholders, who applied for approximately 55.74 million New Shares pursuant to their entitlements (representing a take up rate of approximately 43%). The shortfall under the Retail Entitlement Offer was therefore approximately $11.9 million, representing 74.38 million New Shares, which will be allocated to the Underwriters (and sub-underwriters) of the Retail Entitlement Offer.
The completion of the Retail Entitlement Offer represents the final stage of the $60 million Entitlement Offer. The institutional offer component of the Entitlement Offer closed on 18 March 2021, with the resultant New Shares issued on 25 March 2021, raising gross proceeds of $39.25 million.
The approximately 130.1 million total New Shares to be issued under the Retail Entitlement Offer will rank equally with existing ordinary shares in all respects from the date of their issue. The settlement date for the underwritten portion of the New Shares to be issued under the Retail Entitlement Offer is scheduled for Thursday, 15 April 2021. The New Shares are expected to be issued on Friday, 16 April 2021.
Petra Capital Pty Ltd and Canaccord Genuity (Australia) Limited are acting as Joint Lead Managers, Joint Bookrunners and Joint Underwriters to the Entitlement Offer.
ENDS
Authorised for release by the Board.
For more information:
| Investors/Shareholders: Patrick Duffy, Chief Corporate Development Officer Mark Williams, Managing Director Red 5 Limited Telephone: +61 8 9322 4455 |
Media: Nicholas Read / Kate Bell Read Corporate Telephone: +61 8 9388 1474 |
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Not an offer in the United States
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act of 1933 and applicable US state securities laws.
Red 5 Limited
ABN 73 068 647 610 ASX: RED Shares on issue: 2,216M Level 2, 35 Ventnor Avenue West Perth 6005 Western Australia Tel: (+61) 8 9322 4455 Fax: (+61) 8 9481 5950 Web: www.red5limited.com Investor enquiries: [email protected]