Tempest Minerals

Rights Issue Offer Results

Tempest Minerals Ltd (TEM) (“Tempest” or the “Company”) is pleased to advise the completion of the pro-rata non-renounceable Entitlement offer (Offer). The Offer comprised one fully paid ordinary share (“New Shares”) in the Company for every five (5) fully paid ordinary shares held at an issue price of $0.008 per New Share.


The Company advises that it received applications for a total of 24,251,886 shares, amounting to $194,015. This comprised applications for:

  • 17,662,016 Entitlement shares; and
  • 6,589,870 Additional Shares (oversubscriptions).

The New Shares are expected to be issued on Friday 12 July 2024, in accordance with the timetable outlined in the ASX announcement dated 17 June 2024.

The resulting shortfall from the Offer is 79,573,471 shares, which represents a take-up from eligible shareholders of approximately 23.36%.

Tempest would like to thank all shareholders for their support and are excited to further progress our exploration at our Western Australian projects including our upcoming drilling at the Remorse Target.

Under the terms of the Offer Issue as outlined in section 1.11 of the Rights Issue Offer Document, the Directors may allocate the shortfall at their discretion within 3 months of the closing date of the Offer. Following this notification, various parties who have previously expressed potential interest in taking up the shortfall will be approached.


Click here for the full ASX Release

This article includes content from Tempest Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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