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Lynas Corp Ltd updates on share purchase plan

Tuesday, 27 May 2014 07:01pm EDT 

Lynas Corp Ltd:Confirm that the shareholder support for its recent share purchase plan (SPP) was slightly over the underwritten amount of A$30 mln.Board had decided to accept all SPP applications in full, and there will be no scale back.Issue price for shares to be issued under the SPP is A$0.113 per new share.Funds raised under the SPP will be used to augment working capital during the ramp-up at the Lynas Advanced Materials Plant in Malaysia.