Tempest Minerals (ASX: TEM) extends entitlement offer by two weeks

June 18, 2024 03:02 PM AEST | By Sonal Goyal

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Tempest Minerals (ASX: TEM) extends entitlement offer by two weeks — Image source: Company update

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Highlights

Closing data of the entitlement offer extended to 5 July 2024.

The date has been extended by two weeks to ensure participation of all eligible shareholders.

New shares are expected to be issued on 12 July 2024.

Tempest Minerals Limited (ASX: TEM) has extended the closing date of the pro-rata non-renounceable rights issue announced on 31 May 2024. Through the offer, the company intends to issue around 103,824,886 shares on the basis of one new share for every five shares held to raise nearly AU$830,599 at an issue price of AU$0.008 per share.

The company has extended the closing date by two weeks to 5 July 2024. This move would ensure that interested eligible shareholders get the chance to participate in the offer.

With this development, normal trading of shares issued under the offer is expected to begin on 15 July 2024.

TEM shares were trading at AU$0.009 apiece at the time of writing on 18 June 2024.

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