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A-Cap Resources' Major Shareholder China Growth Minerals Ups Stake To 32.58%

A-Cap Resources (ASX:ACB) substantial shareholder China Growth Minerals Limited has further increased its interest to 32.58% from 21.22% through the acquisition of shortfall shares as underwriter of the recent entitlement offer.

China Growth's parent Ansheng Investment had acquired the 53,094,961 shortfall shares for $2,920,223.

It had on 5 June increased its stake to 21.22% from 19.99% from the acquisition of shares under the entitlement offer.

A-Cap had offered shareholders 1 new share for every 3.5 shares, or 81,824,282 shares, to raise $4.48 million.

Funds from the offer and the earlier $1.32 million placement will enable critical path drilling, process design and environmental work at its Letlhakane Uranium Project in Botswana to commence immediately.

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