The SPP was strongly supported, and closed with significant overapplications in only 1 week.
Eligible applications received totalled
The SPP offered all eligible shareholders the opportunity to acquire new Barton shares at the same price as the Company's recent institutional placement (Placement). Further to the Placement, Collins Street Asset Management became a ~6.9% substantial shareholder of Barton.
To recognise and reward the significant interest shown by existing shareholders, the Directors have resolved to accept a total of
8,408,198 of the new SPP shares will be issued pursuant to the Company's available Listing Rule 7.1A capacity, with the 966,825 balance issued pursuant to the Company's available Listing Rule 7.1 capacity.
Scale back has been applied proportionally for each applicant, where each eligible applicant will receive ~71.5% of the amount of shares they validly applied for. The difference between the application monies received, and the value of SPP Shares allocated (number x Issue Price), will be refunded without interest.
Barton expects to issue the SPP shares Tuesday,
Following the issuance of new SPP shares, there will be 218,456,999 fully paid ordinary shares on issue. Commenting on the final SPP results, Barton Managing Director
"The SPP outcome reflects an extraordinary vote of shareholder confidence in Barton's platform and strategy as we pursue the development of large scale gold production in
"Together with the ongoing sales tender for more than
About
Contact:
Managing Director
E: a.scanlon@bartongold.com.au
T: +61 425 226 649
Company Secretary
E: cosec@bartongold.com.au
T: +61 8 9322 1587
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