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Resolute Mining Ltd on Wednesday said it has successfully completed the retail component of its accelerated entitlement offer of new shares, as announced in November.
Resolute Mining is a Perth, Australia-based, Africa-focused gold mining company. It currently owns two producing gold mines: the Syama Gold Mine in Mali, and the Mako Gold Mine in Senegal.
The retail entitlement offer, which closed on Monday, raised a total of A$46 million, around £25.3 million, at the offer price of A$0.16 per new share.
It was partially underwritten for A$68 million, representing 425 million new shares. Eligible retail shareholders subscribed for 289 million new shares, which represented a 44% take-up rate by eligible retail shareholders of available retail entitlement offer shares.
This follows the successful completion of the institutional offer, which raised approximately A$96 million.
Resolute Mining shares were trading 1.8% lower at 10.80 pence each in London on Wednesday afternoon.
By Holly Beveridge; Alliance News reporter
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