Ionic Uncommon Earths Restricted (ASX: IXR) (“IonicRE” or “the Firm”) is happy to advise outcomes of the Firm’s Share Buy Plan (“SPP”), as introduced on 20 November 2023. The SPP closed at 2.00pm (AWST) on Friday, 15 December 2023.
The SPP adopted the profitable completion of:
1. a placement of 261,904,762 absolutely paid extraordinary shares at a value of $0.021 to lift $5,500,000;
2. a dedication from Mr. Sufian Ahmad, a director of the Firm, to subscribe for 19,047,617 absolutely paid extraordinary shares at $0.021 to lift an extra $400,000, topic to receiving approval at a Normal Assembly of Shareholders to be held early in 2024.
(collectively, “the Placements”)
The SPP supplied eligible shareholders with the chance to subscribe for as much as $30,000 price of latest absolutely paid extraordinary shares at a proposal value of $0.021 per share, being the identical value because the Placements.
The Firm obtained legitimate functions for 62,499,906 new absolutely paid extraordinary shares beneath the SPP elevating roughly $1,312,500 with a shortfall of roughly $687,500. Mr Tim Harrison, the Firm’s Managing Director, took up his full entitlement of shares beneath the SPP.
Shares utilized for beneath the SPP can be allotted and issued at present, Friday 22 December 2023. The Firm want to thank shareholders who supported the SPP.
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