Traka Resources entitlement offer results

Traka Resources Limited (ASX: $TKL) has successfully completed the pro-rata non-renounceable entitlement issue, with the offer for one new share for every one share held by eligible shareholders at the record date at an issue price of $0.002 per new share. The results indicate that 45.4% of securities issued under the offer were accepted by eligible shareholders, with the balance accepted by sub-underwriters. The new shares and options will be issued and allotted on Wednesday 24 January 2024.

Executive commentary on entitlement offer results

The completion of the pro-rata entitlement offer marks an important milestone for Traka Resources. We are pleased with the level of participation from eligible shareholders, which demonstrates their confidence in the company's future prospects. The underwriting of the offer and successful placement of the shortfall further strengthen our financial position, enabling us to pursue our strategic initiatives with greater certainty.

Summary of Traka Resources entitlement offer results

Traka Resources (ASX: $TKL) has concluded the pro-rata entitlement offer, with 45.4% of securities issued under the offer accepted by eligible shareholders. The underwritten offer, fully underwritten with all shortfall successfully placed, reflects the shareholders' confidence in the company. The issuance of new shares and options on Wednesday 24 January 2024 will provide Traka Resources with additional capital to support its strategic initiatives and future growth plans.