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Ardea Resources ( (AU:ARL) ) has provided an announcement.
Ardea Resources has issued 8,333,334 fully paid ordinary shares at $0.60 each to professional and sophisticated investors under a previously announced placement. The new shares were issued without a prospectus in reliance on exemptions under the Corporations Act, reflecting the company’s use of capital markets to support its ongoing operations and funding needs.
By lodging a cleansing notice under section 708A(5)(e) of the Corporations Act, Ardea has enabled the placement shares to be freely traded immediately on the market. The company also confirmed it is up to date with its financial reporting and continuous disclosure obligations, and that there is no excluded information requiring disclosure, providing regulatory comfort to investors and facilitating liquidity.
The most recent analyst rating on (AU:ARL) stock is a Sell with a A$0.58 price target. To see the full list of analyst forecasts on Ardea Resources stock, see the AU:ARL Stock Forecast page.
More about Ardea Resources
Ardea Resources is an Australian-listed company on the ASX that issues fully paid ordinary shares to professional and sophisticated investors as part of its capital management activities. The company operates under the Australian Corporations Act framework and maintains compliance with continuous disclosure and financial reporting obligations.
YTD Price Performance: -0.83%
Average Trading Volume: 225,208
Technical Sentiment Signal: Buy
Current Market Cap: A$125.4M
For detailed information about ARL stock, go to TipRanks’ Stock Analysis page.