28th Apr 2015 08:26
LONDON (Alliance News) - Metminco Ltd Tuesday said it has extended the closing date for its rights issue by a week to May 8 after a large number of shareholders sought clarification about whether they could subscribe for any shares not taken up by other shareholders.
Metminco's rights issue is offering one new share for every 3.25 existing shares held on April 10 at a subscription price of AUD0.005 with an attached option exercisable at the same price within a year of them being issued.
"In addition to their entitlement, eligible shareholders may also apply for shortfall shares. There is no limit on the number of shortfall shares for which an eligible shareholder may apply. However, the board reserves the right at its sole discretion to allocate the shortfall shares," Metminco said.
Its London-listed shares were up 4.2% at 0.250 pence Tuesday morning. Its Australian Securities Exchange shares had closed down 10% at AUD0.0045 a share.
By Steve McGrath; [email protected]; @stevemcgrath1
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