egolinews.com

IMX Resources Limited (IXR) said OZ Minerals Limited (OZL) would exercise its anti-dilution rights for the proposed placement to the Hong Kong subsidiary of Sichuan Taifeng Group Co Ltd, Taifeng Yuanchuang International Development Co Ltd. IMX said OZ Minerals has a one-off right to maintain its shareholding interest in IMX for a period of 12 months by participating in future placements on the same terms and conditions.

The company added that the placement to Taifeng is subject to certain regulatory requirements and approvals.

“As a result of the OZ Minerals decision to participate in the placement and maintain its 13% shareholding in IMX, OZ Minerals will subscribe for a further 7,759,000 shares which, at the issue price of 48.4 cents per share, will require a payment of $3,755,356,” IMX said.

“Including this with the proposed Taifeng placement, IMX will issue a total of 59,530,000 fully paid ordinary shares at 48.4 cents per share to raise $28,812,520, subject to the various approvals.”

At the close of trade Monday, IMX shares were trading at 47c, while OZ Minerals shares were trading at $1.185.

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