Offer to existing shareholders up to Euro8M18 Nov 2019 17:09
"The Company also continues to explore other avenues of funding. The share headroom sought will allow the Company to raise any additional funding from the equity market to support the construction of the Sonora Lithium Project. The Company recognises the importance of giving its existing shareholders the opportunity to participate in any fund-raising and intends to include an open offer element of up to €8 million in conjunction with any primary placing. "
I find the above para confusing.
The offer to existing shareholders is apparently for the listing of Zinnwald as the offer is in EURO Does this suggest that the listing of Zinnwald will happen before the placing for concluding the finance for the Sonora project and that the net proceeds will be used for part of the additional funds needed and thus less dilution ? How else will the existing share holders participate in the fund raising since the rights to be offered are for Zinnwald?
"The Company recognises the importance of giving its existing shareholders the opportunity to participate in any fund-raising"
Your views will be appreciated