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.
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.
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