Placement of Shortfall from Rights Issue
Released
Released
Announcement PDF
ASX : TEM
2024-08-07 | Rights Issue Offer Shortfall
Placement of Shortfall from Rights Issue
Further to the Company’s announcement dated 10 July 2024, Tempest Minerals Limited ASX: TEM) (“Tempest”
or the “Company”) is pleased to announce that it has completed the placement of the Shortfall arising from the
non-renounceable pro-rata Entitlement Offer (Offer) offered on the basis of 1 new share for every five (5) fully
paid ordinary shares held at an issue price of $0.008 per new share and has issued 79,573,471 shares raising
a further $636,587, for a total raising of $830,602 from the Rights Issue.
Under the terms of the Offer Issue as outlined in section 1.11 of the Rights Issue Offer Document, the Directors
allocated the Shortfall at their discretion to various parties who previously expressed potential interest in taking
up the Shortfall.
Tempest welcomes the new shareholders and is excited to further progress our exploration at our Western
Australian projects including our upcoming drilling at the Remorse Target, which is expected to begin
imminently.
For managing the Shortfall, the facilitator will be paid a 6% fee and has, as part of its compensation, subscribed
for 9,946,684 options exercisable at $0.016, expiring on or before 6 August 2026 at an issue price of $0.00001
(‘Options’). The Options were issued under Listing Rule 7.1.
The Board of the Company has authorised the release of this announcement to the market.
Contact
For more information, please contact:
Don Smith
Managing Director
Level 2, Suite 9
389 Oxford Street
Mt Hawthorn,
Western Australia
6016
Website
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+61 892000435
Tempest Minerals Ltd │ ACN 612 008 358
Phone: +61 8 9200 0435
Address: Level 2, Suite 9, 389 Oxford Street, Mt Hawthorn, WA 6016
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