Peako Closes oversubscribed SPP
- Peako (PKO) closes an oversubscribed share purchase plan (SPP)
- Shareholders submitted applications totalling more than $2 million
- The plan offered eligible investors in Australia and New Zealand the chance to apply for $30,000 in new shares priced at 3.5 cents each
- It also offered attached unlisted options on the basis of one option for every two shares subscribed for, exercisable at 5.5 cents each by June 30, 2022
- Executive director Rae Clark says its shareholders’ support mirrors the company’s excitement around the East Kimberley exploration program
- The company shares are down 7.1 per cent to 3.9 cents each at 2:47 pm AEST
