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Highlights
- EV Resources has secured sub-underwriting agreements covering the full AUD 1 million underwritten portion of its rights issue.
- Director Luke Martino and substantial shareholder Adrian Paul have each committed up to AUD 500,000 under separate sub-underwriting agreements.
- The company said the arrangements will not result in either sub-underwriter and their associates exceeding a 20% voting power in EV Resources.
EV Resources Limited (ASX:EVR) has announced an update to its pro rata non-renounceable rights issue, confirming that the entire AUD 1 million underwritten component has now been backed through separate sub-underwriting agreements.
EV Resources Finalises Sub-Underwriting Arrangements
The company advised that, with its consent, Indian Ocean Securities Pty Ltd, the underwriter for the rights issue, has entered into two separate sub-underwriting agreements covering the entire underwritten amount.
Under the agreements:
- Director Luke Martino and/or his nominees have agreed to sub-underwrite up to AUD 500,000, representing a maximum of 100 million shortfall shares together with 100 million free-attaching options.
- Substantial shareholder and former director Adrian Paul and/or his nominees have also agreed to sub-underwrite up to AUD 500,000, covering another 100 million shortfall shares and 100 million attached options.
Both parties will receive a 5% fee from the underwriter for their commitments.
EVR shares were trading at AUD 0.0050 per share at the time of writing on 24 July 2026.
