Activeport Group's latest shareholder opportunity

Activeport Group (ASX:ATV) has announced the closing of its renounceable entitlement issue. The offer allows shareholders to purchase three new shares for every four existing shares at $0.02 per share. The issue will close at 5:00 pm (WST) on 6 November 2024. The company's largest shareholder, controlled by Managing Director Peter Christie, will fully participate, contributing $585,000.

Key details and outlook of the rights issue

Activeport Group Ltd has launched a renounceable entitlement issue, offering existing shareholders the chance to buy additional shares at a set price. The entitlement ratio is three new shares for every four shares held, at $0.02 each. The closing date for this offer is 6 November 2024. Herdsman Lake Capital Asia Pte Ltd, the company's largest shareholder, will fully participate, showcasing strong confidence in Activeport's growth potential. This strategic move aligns with the company's commitment to enhancing shareholder value and securing future development.

Executive commentary on the rights issue

Our largest shareholder, Herdsman Lake Capital Asia Pte Ltd, will fully participate by taking up 100% of its entitlement. This demonstrates strong internal confidence in our company's future prospects.