Lake Resources N.L. (ASX: LKE) has extended the date for its Share Purchase Plan to 5.00pm (AEDT) Thursday, 18 April 2024. The extension of the SPP is to allow sufficient time for all eligible shareholders to participate and complete applications following the Easter holiday period.
The SPP provides eligible shareholders with an opportunity to apply for up to A$30,000 of new fully paid ordinary shares in Lake at an issue price of A$0.07 per share without incurring brokerage or other transaction costs.
Shareholders that have already applied for shares under the SPP are not required to re-submit their application form unless they wish to apply for additional shares up to the maximum application amount of A$30,000.
The company intended to apply for a waiver under ASX Listing Rule 7.1 from the requirement that the issue price of shares under the SPP be no lower than 80% of the fifth day VWAP. The company is pleased to announce that it has sought, and the ASX has granted, the waiver. As a result of the waiver, the SPP will not utilize the company’s available placement capacity under Listing Rule 7.1 and the SPP will not require shareholder approval at an EGM.
Lake Resourves will ensure the SPP otherwise complies with the conditions of Exception 5 to Listing Rule 7.2, including that the SPP must not result in shares being issued in excess of the overall cap of 30% of the company’s issued capital.
To read more about this, please visit www.lakeresources.com.au
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