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VHM LIMITED — Capital/Financing Update 2024
Aug 18, 2024
66004_rns_2024-08-18_1c4ab165-3420-4025-846f-126e12c4034d.pdf
Capital/Financing Update
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ASX Release
19 August 2024
Results of Share Purchase Plan
VHM Limited (“VHM” or “the Company”) (ASX: VHM) is pleased to advise the results of its Share Purchase Plan (“SPP”) which was announced on 25 July 2024. The SPP was open to eligible shareholders as at the Record Date being 7.00pm (AEST) on 24 July 2024.
The SPP was undertaken at $0.42 per share which is the same price as the A$1.8 million placement of approximately 4.3 million new fully paid ordinary shares in VHM which completed on 1 August 2024 (“Placement”). The Placement was made to existing major shareholders and institutional investors and demonstrated strong support for VHM’s plans for its flagship Goschen Project.
The SPP closed on 14 August 2024, with the Company receiving valid applications for 3,882,190 SPP Shares, raising a total of A$1,630,500.
The new shares will be allotted on 20 August 2024 with trading of the new shares also to commence on that date. Holding statements will be sent to shareholders on or around 30 August 2024.
Proceeds from the Placement and SPP, totaling approximately A$3.43 million together with existing cash of A$6.3 million (at 30 June 2024), will be used to undertake work programs to advance the development of the Goschen Project, with ministerial approval expected shortly and a Final Investment Decision on the 100% owned Goschen Project anticipated in 1Q 2025.
ENDS
This announcement has been approved by the Board of VHM.
For Further Information Contact:
Carly O’Regan Ian Hobson Executive General Manager Company Secretary M: +61 (0)431 068 814 M: +61 (0)407 421 185 E: [email protected] E: [email protected]
ABN 58 601 004 102 I Suite1, Level 11, 330 Collins St, Melbourne VIC 3000 I www.vhmltd.com.au