Cooper Metals (ASX: CPM) Loyalty Options Offer: What Shareholders Need to Know

July 11, 2024 01:59 PM AEST | By Sonal Goyal

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Highlights

CPM announced an entitlement issue of loyalty options, offering one option for every 10 shares held by eligible shareholders on 22 July 2024.

The offer is expected to raise approximately AU$23,507 before costs by issuing over 7.83 million loyalty options.

Funds raised from the offer will cover the costs associated with the loyalty offer.

Cooper Metals Limited (ASX: CPM) is launching a pro-rata non-renounceable entitlement issue of loyalty options to recognise the support of its shareholders. Eligible shareholders as of 22 July 2024 will receive one loyalty option for every 10 shares held.

Each loyalty option will be priced at AU$0.003 and will expire on 24 November 2026, with an exercise price set at AU$0.25 per option.

Approximately 7.83 million loyalty options are expected to be issued, raising nearly AU$23,507 (before costs). The proceeds from this initiative will cover the expenses associated with the loyalty offer.

Prenzler Group Pty Ltd has been appointed as the lead manager for the loyalty offer and will receive 1 million options under the same terms as offered to shareholders.

CPM shares were trading at AU$0.065 apiece at the time of writing on 11 July 2024.

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