Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New Talisman rights underwriter picks up half the stock

New Talisman rights issue underwriter picks up half the stock after shortfall

Nov. 27 (BusinessDesk) - Shareholders of New Talisman Gold Mines applied for only 52 percent of shares on offer under its renounceable rights issue, leaving the underwriter to make up the balance.

New Talisman, formerly known as Heritage Gold NZ, had offered about 119.9 million shares at 1 Australian cent or 1.3 New Zealand cents apiece to raise up to A$1.2 million to develop the Talisman mine in New Zealand’s Hauraki District. The rights offer was one new share and an attached option for every three shares held.

The company got applications for 62.5 million shares from 379 of its 1,800 shareholders, leaving a shortfall of 57 million shares, it said in a statement to the NZX. Total funds raised from the rights issue, including the underwritten shortfall and before expenses was NZ$1.5 million. The offer was underwritten by Canaccord Genuity (Australia).

The capital raising follows a share purchase plan started in April that raised NZ$306,000.

New Talisman also owns 21.7 percent of Broken Hill Prospecting, which is planning to develop a cobalt project at Thackaringa near Australia’s Broken Hill.

The dual-listed shares last traded at 0.8 Australian cents on the ASX, valuing the company at about A$4.1 million, and have fallen by about a third this year. The NZX-listed stock was last at 1.1 cents and has dropped 46 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Wool Exports Jump To The Highest In More Than A Decade

New Zealand wool exports jumped to their highest level in more than a decade in June, aided by a lower currency and strong demand from China, the nation’s largest market. More>>

ALSO:

Surreal Estate: Home Values Rise At Fastest Rate In Seven Years

The latest monthly QV House Price Index shows that nationwide residential property values for July have increased 10.1% over the past year which is the fastest annual rate since 2007... The Auckland market has increased 18.8% year on year. More>>

ALSO:

New Employment Laws: Talley’s AFFCO Workers To Strike

The decision comes after the Talley’s owned company walked away from mediation last week and applied to end bargaining under the government’s new employment laws - the first such application since the law came into effect. More>>

ALSO:

Private Action: Employer Pleads Guilty Over Forestry Death

The CTU has always known that the death of forestry worker Charles Finlay was due to the poor health and safety practices of his employer... "The CTU, with the support of Charles’s family, needed to take this ground breaking private prosecution." More>>

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news