Metro Mining Limited (ASX: $MMI) has announced the launch of a Share Purchase Plan (SPP) allowing eligible shareholders to subscribe for up to A$30,000 of new shares at an issue price of $0.041. The SPP offer opens today and is expected to close at 5.00pm (AEST) on Friday, 24 May 2024. Eligible Shareholders are encouraged to review the SPP offer document available online on the SPP website at www.computersharecas.com.au/mmispp.
On behalf of the board of directors, it gives me great pleasure to offer eligible shareholders the opportunity to purchase up to A$30,000 in additional fully paid ordinary shares in Metro Mining Limited under this Share Purchase Plan. The SPP, in conjunction with the recent A$40 million placement, aims to pay down existing debt and allocate funds to working capital. The SPP provides eligible shareholders with the opportunity to acquire additional Metro Shares at A$0.041 per share, representing a discount of 10.9% to the closing price of Metro Shares on 29 April 2024.
Metro Mining Limited (ASX: $MMI) has launched a Share Purchase Plan (SPP) allowing eligible shareholders to subscribe for up to A$30,000 of new shares at an issue price of $0.041. The SPP offer is part of the company's strategy to pay down existing debt and allocate funds to working capital following the recent A$40 million placement. Eligible shareholders are encouraged to review the SPP offer document available online and consider this opportunity. The SPP closes at 5.00pm (AEST) on 24 May 2024, and shareholders are advised to make their decisions accordingly.