Flinders Mines Limited to Raise Capital of $5.5 million

May 16, 2020 12:19 PM AEST
Team Kalkine

Flinders Mines Limited (ASX:FMS) notified the market to undertake non-renounceable entitlement offer to raise nearly $5.5 million.

The offer shall comprise the issue of around 425,895,854 new fully paid ordinary shares based on one new share for every nine existing shares that eligible shareholders hold.

The offer price of 1.3 cents or $0.013 per share is a discount of nearly 47.6 per cent to the 10-day VWAP (volume weighted average price) of FMS shares for the period ending 13 May 2020.

The proceeds will be utilized to pay the balance of $7 million unsecured loan from PIO Mines Pty Ltd.

Disclaimer

The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.