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Pilbara Minerals Ltd raises A$2.6 mln in share purchase plan


Thursday, 24 Jul 2014 08:51pm EDT 

Pilbara Minerals Ltd:Says completion of its share purchase plan (SPP), which closed on July 23, with an outstanding response from shareholders which has seen total applications received for up to A$2.6 mln of shares.Under terms of SPP, which was announced on July 7, eligible shareholders on Pilbara register as at July 4, were offered opportunity to apply for up to A$15,000 worth of shares without incurring brokerage or transaction costs.SPP, which was offered at an issue price of A$0.015 per share, was not underwritten.SPP closed on July 23, with the company receiving valid applications representing A$1,280,000.Says this represents 75 pct. of total cap under the SPP of A$1.763 mln or 117.59 mln shares and constitutes an outstanding result for an SPP.In addition, the company has received further applications from investors totalling A$1,319,500 for available shortfall under the SPP of about A$500,000.Together with the proceeds of its recent A$920,000 share placement, additional funds raised through SPP and further placement will be used to complete construction of processing facility for the company's flagship Tabba Tabba Tantalum Project. 

Company Quote

96.8
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25 Nov 2014