Upon the completion of the entitlement offer, GEAR will retain an approximate 64% interest in Australian Securities Exchange (ASX)-listed Stanmore through its subsidiary.
Golden Energy and Resources (GEAR) has committed to subscribe for US$300 million ($407 million) of its entitlement of the US$506 million underwritten pro-rata entitlement offer of ordinary shares in Stanmore.
The subscription will be done via GEAR’s subsidiary, Golden Investments (Australia).
