Arafura Rare Earths (ASX: $ARU) Share Purchase Plan Announcement

Arafura Rare Earths Limited (ASX: $ARU) has announced a Share Purchase Plan (SPP) offer, targeting to raise $7 million with the ability to accept oversubscriptions up to an additional $3 million. The offer is not underwritten and is subject to shareholder approval. The SPP offer closes at 5:00pm (AEST) on 9 September 2024, and the issue of SPP shares is subject to shareholder approval, which will be sought at a general meeting of the company to be held on or around 4 September 2024. The company reserves the right to withdraw all or part of the offers and the prospectus at any time, subject to applicable laws and the ASX Listing Rules. The company will apply for Official Quotation by ASX of the new shares offered by the prospectus. The company's chairman has encouraged shareholders to consider the opportunity to increase their investment in Arafura.

Executive Commentary on Share Purchase Plan

The chairman of Arafura Rare Earths Limited emphasized the importance of the Share Purchase Plan (SPP) offer as a means for eligible shareholders to participate in the company's growth and development. The SPP offer presents an opportunity for shareholders to contribute to the company's funding initiatives and critical path activities. It is a strategic move to raise capital and strengthen the company's financial position. The chairman encourages shareholders to carefully consider the offer and its potential impact on their investment in Arafura.

Summary of Arafura Rare Earths (ASX: $ARU) Share Purchase Plan

Arafura Rare Earths Limited (ASX: $ARU) has announced a Share Purchase Plan (SPP) offer aiming to raise $7 million, with the potential to accept oversubscriptions of up to an additional $3 million. The offer is subject to shareholder approval and is not underwritten. The company reserves the right to withdraw all or part of the offers and the prospectus at any time, subject to applicable laws and the ASX Listing Rules. The SPP offer is set to close at 5:00pm (AEST) on 9 September 2024. Arafura Rare Earths Limited will apply for Official Quotation by ASX of the new shares offered by the prospectus. The chairman has encouraged shareholders to consider the opportunity to increase their investment in Arafura. The company aims to utilize the funds raised from the SPP offer to support its funding initiatives and critical path activities, thereby strengthening its financial position and contributing to future growth and development.