(Alliance News) - Salt Lake Potash Ltd on Friday said trading in the shares of the company have been halted on the Australian Securities Exchange effective immediately.
The Australian sulphate of potash producer requested the trading halt pending an update regarding the completion of the debt financing package announced back in August and a capital raising.
The debt financing package agreed upon earlier this year includes a AUD203 million, or USD128 million, syndicated facility agreement with Taurus Mining Finance Fund No 2 LP and Clean Energy Finance Corp. A fully underwritten equity placement of AUD98.5 million at 0.50 cents, or USD72.6 million at 0.37 cents, is also part of the package.
The halt will remain in place until an update is made or the opening of trade on ASX on December 3. However, the company will continue to trade on AIM.
Shares in Salt Lake Potash were down 12.3% at 24.33 pence in London on Friday.
By Zoe Wickens; zoewickens@alliancenews.com
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