The placement is not underwritten. If the shares are fully placed out, GEAR’s total share base will increase to nearly 2.64 billion shares from 2.35 billion now.
Coal miner Golden Energy and Resources, a week after reporting record earnings for FY2021, announced plans to raise $86.9 million via a placement to fund acquisitions and working capital.
KGI Securities has been appointed to place out 285 million new shares at 30.5 cents each - a discount of 4.7% to the last traded volume weighted average share price of 31.99 cents on Feb 25.
