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GEAR to subscribe for $407 mil of its entitlements in Stanmore Resource’s entitlement offer

Felicia Tan
Felicia Tan3/3/2022 08:58 AM GMT+08  • 1 min read
GEAR to subscribe for $407 mil of its entitlements in Stanmore Resource’s entitlement offer
The subscription will be done via GEAR’s subsidiary, Golden Investments (Australia).
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Golden Energy and Resources (GEAR) has committed to subscribe for US$300 million ($407 million) of its entitlement of the US$506 million underwritten pro-rata entitlement offer of ordinary shares in Stanmore.

The subscription will be done via GEAR’s subsidiary, Golden Investments (Australia).

Upon the completion of the entitlement offer, GEAR will retain an approximate 64% interest in Australian Securities Exchange (ASX)-listed Stanmore through its subsidiary.

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