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- Leigh Creek Energy (LCK) undertakes a share purchase plan (SPP) to raise about $5 million for its flagship Leigh Creek Urea Project
- Under the SPP, eligible shareholders may apply to purchase a parcel of shares ranging from $2,000 to $30,000 in value with no brokerage or other charges
- Shares will be offered at a price of 15 cents each, representing a 6.25 per cent discount to yesterdays closing price
- The company says it may decide to accept more or less applications than its targeted $5 million
- Shares are trading 3.03 per cent lower this morning at $0.16 each
Leigh Creek Energy (LCK) has announced it will undertake a share purchase plan (SPP) to raise approximately $5 million.
The funds raised will be used to progress the development of the company’s flagship Leigh Creek Urea Project through the next phases of the commercial pathway.
The money will also be used to undertake business development activities, general corporate activities, and for general working capital.
Under the SPP, eligible shareholders may apply to purchase a parcel of shares ranging from $2,000 to $30,000 in value with no brokerage or other charges.
Shares will be offered at a price of $0.15 each, representing a 6.25 per cent discount to yesterdays closing price and a 13.44 per cent discount to the volume-weighted average over the last five trading days.
The company said it may decide to accept more or less applications than its targeted $5 million.
The offer to participate in the SPP will open on Monday next week and will close at 5pm on February 7.
Shares are trading 3.03 per cent lower this morning at $0.16 each at 10:00 am AEDT.
