Investment Opps

Regis Resources Ltd (RRL.AX) Placement & Entitlement Offer


Regis Resources Limited (Regis) has announced today that is has entered into an asset sale agreement with IGO Limited (ASX:IGO) to acquire a 30% interest in the assets of Tropicana Gold Mine (Tropicana Share), with an effective date of 31 March 2021, which is subject to certain conditions including the waiver or non-exercise of pre-emptive rights held by AngloGold Ashanti Limited.

A fully underwritte Equity Raising of A$650 million consisting of an institutional placement of A$200 million and a 1 for 3.08 prorata accelerated non-renounceable entitlement offer of A$450 million (the Entitlement Offer) have been announced.

The offer price of A$2.70/share, represents a 10.6% discount to Theoretical Ex-Rights Price (TERP) and a 14.8% discount to Regis’ last close ofA$3.17 as at Monday, 12 April 2021.

Approximately 241 million new shares will be issued, representing 46.9% of Regis existing share capital.

For further information, please see here

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