Avira Resources Limited (ASX:AVW) Proposes New Options Offer
New Options Offer Details
Avira Resources Limited (ASX:AVW) plans to conduct an offer for a new class of options, pending shareholder approval at an upcoming general meeting. The proposed offer, referred to as the Options Offer, will allow holders of the company’s existing options (AVWOA Options) to apply for New Options.
All holders of AVWOA Options with registered addresses in Australia or New Zealand will have priority to participate in this offer. James Robinson, a non-executive director of Avira, has revealed his intention to apply for his full allocation under the Priority Offer, which requires separate shareholder approval.
Capital Consolidation and Financial Aspects
The company is also seeking approval for a 20:1 capital consolidation. Upon completion of this consolidation, the Options Offer aims to provide 48,435,500 New Options, translating to 968,710,000 on a pre-consolidation basis. Each eligible holder can apply for one New Option for every 20 AVWOA Options held as of 31 December 2024.
The proposed issue price for the New Options is $0.001, with an exercise price of $0.015 and an expiry date of 30 June 2027. If fully subscribed, the Options Offer is expected to raise approximately $48,435 before costs.
Next Steps and Additional Information
Avira Resources Limited intends to apply for quotation of the New Options. Further details will be provided in the Notice of Meeting and accompanying Prospectus, which will be released through the Market Announcements Platform shortly.
This announcement was authorised for release by the Board of Avira Resources Limited.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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