HIGHLIGHTS
- Completion of the placement offer – Received firm commitments from sophisticated investors and clients of GBA Capital Pty Ltd to raise A$400,000 in new shares to be issued at the Company’s last traded price of $0.005 per share.
- Placement details – Installation should be carried out as follows:
- 80,000,000 new shares to be issued in accordance with AuKing’s existing placement capacity under ASX Listing Rule 7.1A;
- 40,000,000 new free-closing options with an exercise price of $0.006 and ending on December 31, 2026 (“$0.006 Options”), to be issued upon approval at a forthcoming extraordinary general meeting to be convened by the Company.
- Use of Funds – Funds are raised for working capital purposes upon payment of the placement costs.
- Head manager – The placement was managed by GBA Capital Pty Ltd (GBA).
Placement details
AuKing has received binding commitments for a placement to sophisticated investors and clients of GBA Capital Pty Ltd, consisting of 80,000,000 new, fully paid ordinary shares in the Company at an issue price of $0.005 per share (“Placing Shares”), together with free options to raise A$400,000 (before issuance costs).
The placement will be completed by the Company using its existing share placement capacity under ASX Listing Rule 7.1A.
The Placing also includes the offer, subject to shareholder approval, of free attaching options (“Placing Options”), to be issued on the basis of one option for every two Placing Shares issued (being a total of 40,000,000 options) with an exercise price of $0.006 and ending on December 31, 2026 (“$0.006 Options”).
The funds received by the Company under the Placing are to be used for the following purposes:
- Working capital; And
- Installation costs.
GBA Capital acted as Lead Manager for the Placement and will be remunerated as follows:
- A capital increase fee of 6% on all funds raised in the context of the Placement; And
- A total of 10,000,000 $0.006 options are to be issued subject to approval by AuKing shareholders.
The Company proposes to convene an extraordinary general meeting in January 2026 (“EGM”) for the purpose of seeking shareholder approval of the proposed issued options contemplated by the Placement and to the Lead Manager.
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