Gascoyne Resources Limited (AU:SPR) has released an update.
Spartan Resources Limited has launched a fully underwritten Entitlement Offer to issue new shares, allowing existing shareholders to buy 1 new share for every 17 held, which is expected to increase total shares by approximately 5.9%. The offer is targeted at shareholders in Australia or New Zealand, with specific jurisdictions also considered. The issuance is not anticipated to significantly alter the company’s control structure.
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