Arafura Launches Share Purchase Plan

Arafura Resources Limited (AU:ARU) has released an update.

Arafura Rare Earths Limited has announced a share purchase plan (SPP) targeting to raise $7 million, offering eligible shareholders the opportunity to acquire new shares at $0.16 each, with the possibility of an additional $3 million in oversubscriptions. The offer, which is not underwritten, requires shareholder approval at a general meeting scheduled for September 2024, and the SPP will close on 9 September 2024. Investors are cautioned that these new shares should be considered speculative and are advised to consult with financial professionals.

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