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Lynas Corp Ltd announces share purchase plan and placement

Thursday, 29 May 2014 07:17pm EDT 

Lynas Corp Ltd:Confirms that both its share purchase plan and top up placement have closed fully subscribed, adding A$39.97 mln (net of costs) to the company‚Äôs working capital reserves as it ramps up production at the Lynas Advanced Materials Plant (LAMP) in Malaysia.Participation from existing Lynas shareholders in the recent share purchase plan (SPP) raised A$30.08 mln, and has resulted in the issue of 266.18 mln new Lynas shares.Says it has successfully completed the top up placement.An additional A$12 mln was raised through the placement of 106.19 mln ordinary Lynas shares to institutional and sophisticated investors at a price of A$0.113 per new share, the same price per share as for the SPP.Allotment and trading of the new shares issued under the SPP will take place on May 30.Allotment and trading of the new shares issued under the placement will take place on June 02. 

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