Eclipse Metals (ASX: EPM) is preparing details regarding the completion of the previously announced rights issue, with the ASX granting the company a trading halt - with its shares placed in pre-open.
In May Eclipse announced that it was set to raise around $2.4 million from an underwritten renounceable entitlement issue, on the basis of two shares for every one held.
Last week Eclipse said that valid acceptances have been received from shareholders were valued at $303,720. The resultant shortfall of shares to the value of $2,128,207 has been taken up by the underwriter to the renounceable rights issue, Komodo Capital Pty Ltd AFSL 344234 - a company associated with Pete Landau, a director of Eclipse.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 21st June 2013.
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