Recently, Shenghe Resources announced that its holding company, Shenghe Resources Singapore, intends to subscribe for additional new shares of Vital Metal Limited (“VML”) for a total amount of approximately AUD 14.8 million, and after the completion of the subscription, Shenghe Singapore will hold 18.2% of the entire issued shares of VML. equity.
The announcement shows that the agreement stipulates that Shenghe Singapore’s share subscription will be carried out in two phases. The first phase of the subscription of ordinary shares, accounting for 9.99% of all issued shares of VML after the issuance of additional shares, the subscription price of AUD 0.01/share, the total subscription amount of about AUD 5.9 million; the second phase of the subscription of ordinary shares, accounting for 8.2% of all issued shares of VML after the issuance of additional shares, the subscription price of AUD 0.015/share, the total subscription amount of about AUD 8.9 million, and Shenghe Singapore may exercise the option to subscribe for additional shares in the second tranche at any time within 12 months of the settlement of the first tranche subscription.
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