ASX Notice - Accelerated Renounceable Entitlement Offer
Melbourne, Aug 5, 2015 AEST (ABN Newswire) - Syrah Resources Limited (
ASX:SYR) (Company) announced a fully underwritten accelerated renounceable pro-rata entitlement offer of 4 new shares for every 19 existing shares at an offer price of $3.25 per new share to raise approximately $113 million (Entitlement Offer) together with a placement offer to institutional investors for new ordinary shares at $3.25 per share to raise approximately $98 million (Placement).
The Entitlement Offer has the following two components.
- An institutional entitlement offer, where offers have been made to qualifying institutional securityholders for them to apply for their pro-rata entitlement (Institutional Offer).
- A retail entitlement offer, where offers will be made to qualifying retail securityholders for them to apply for their pro-rata entitlement (Retail Offer).
New shares issued under the Entitlement Offer will rank equally with existing ordinary shares on issue.
To view the timetable, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SYR-427187.pdf
NOT FOR DISTRIBUTION IN THE USA
About Syrah Resources Ltd
Syrah Resources (ASX:SYR) is an Australian resource company that is rapidly progressing its flagship Balama Graphite and Vanadium Project in Mozambique to production. The Project hosts the largest graphite ore reserves in the world with an Australasian Joint Ore Reserves Committee (JORC) compliant Ore Reserve of 81.4 Mt at 16.2% total graphitic carbon. Balama is a 110 km2 granted Mining Concession located within the Cabo Delgado province in the district of Namuno in northern Mozambique. The Project is approximately 260 km by road west of Pemba and is accessible by a sealed, main road, running directly from Pemba Airport. The Port of Nacala is approximately 490 km by road south east of the Project and is the deepest port in Southern Africa.
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