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An announcement from Alice Queen Ltd. ( (AU:AQX) ) is now available.
Alice Queen Limited has launched a non-renounceable pro-rata rights issue, offering one new share for every three held by eligible shareholders at an issue price of $0.009, to raise up to approximately $5.77 million before costs. The offer is available to shareholders in Australia, New Zealand, Japan, China and certain other jurisdictions, and is described as highly speculative.
The rights issue is partially underwritten by GBA Capital Pty Ltd for up to about $2.18 million, providing a degree of funding certainty. Major shareholder Gage Resource Development has committed to take up its full entitlement and to priority sub-underwrite any shortfall to maintain, but not exceed, a 51% post-issue stake, reinforcing its control position and supporting the capital raising.
More about Alice Queen Ltd.
Alice Queen Limited is an Australian-listed company trading on the ASX under the code AQX. The company operates in the resources sector, with a shareholder base that includes substantial investor Gage Resource Development Pty Ltd, and is overseen by a board comprising executive and non-executive directors based in Victoria.
Average Trading Volume: 4,006,735
Technical Sentiment Signal: Sell
Current Market Cap: A$19.25M
See more data about AQX stock on TipRanks’ Stock Analysis page.