Cullen Resources Limited (ASX: $CUL) has announced a pro-rata non-renounceable rights issue offer of new fully paid ordinary shares at an issue price of $0.006 per share. The offer, which closes at 5:00 PM (AEST) on 16 August 2024, allows each eligible shareholder to subscribe for one new share for every three shares held at the record date. Eligible shareholders may also apply for additional shortfall shares. The indicative timetable for the rights issue is subject to variation by the company, and the offer document emphasizes that the offer is speculative in nature.
The company is pleased to offer its eligible shareholders the opportunity to participate in the rights issue offer. This initiative aims to raise funds primarily for advancing exploration activities across various projects. The company acknowledges the speculative nature of the offer and encourages shareholders to carefully consider all relevant information, including publicly available data on the ASX website under stock code CUL, before making a decision. The company's directors, who are also eligible shareholders, intend to participate in the offer, and the company will proceed with the allotment of the new shares as soon as possible after the closing date.
Cullen Resources Limited (ASX: $CUL) has announced a pro-rata non-renounceable rights issue offer of new fully paid ordinary shares at an issue price of $0.006 per share. The offer, closing on 16 August 2024, aims to raise funds for advancing exploration activities across various projects, including gold, base metals, Ni-Cu-PGE mineralisation, lithium, and project generation. The company emphasizes the speculative nature of the offer and encourages shareholders to consider all relevant information before deciding to participate. The company will apply to ASX for the quotation of the new shares issued under the offer. Shareholders should carefully review the risk factors outlined in the offer document and consult their professional advisers before making any investment decision.