Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Silver Lake Resources Launches Share Purchase Plan To Raise Up To $15M 0 comments
    Sep 8, 2013 9:37 PM

    Silver Lake Resources (ASX: SLR) has formally launched its Share Purchase Plan to raise up to $15 million to repay debt and for working capital purposes.

    Shareholders will be able to subscribe for between $2,500 and $15,000 worth of shares priced at $0.85 each. This represents a 13.6% discount to the 5 day VWAP ending 23 August.

    This follows the company's heavy oversubscribed fully underwritten placement that raised $47.5 million, highlighting the strong support received from a large number of existing and new Australian, Asian, North American and European investors.

    Analysis

    With shares in the company expected to rise today, the offer presents shareholders with an opportunity to acquire additional shares in the company at an attractive price.

    This follows a strong show of confidence by institutional investors as well as a endorsement of the future prospects of the company by the company's directors who are seeking to acquire $1.2 million worth of shares.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.