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Emu NL (ASX:EMU)

ALERT: Price-sensitive ASX Announcement for EMU
Current share price for EMU : $0.023 0.001 (4.55%)+
Announcement
Release
22 Apr 2026 10:49AM
Price at Release
$0.022
Full Release
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Summary
Emu NL announced the closure of its rights issue, which was part of a non-renounceable entitlement offer leading to the issuance of approximately 146.6 million fully paid ordinary shares. This offer allowed shareholders to acquire one new share for every two shares held, along with one free attaching option per share. The funds raised, totaling around $1.63 million, will finance a drilling program at Yataga Valley, targeting copper anomalies and sulphide mineralisation. The drilling aims to validate the geological framework, with the program being the first significant test of the Yataga Intrusive Complex. The capital structure post-issuance includes various listed and unlisted options, with Martin Place Securities and Lazarus Advisory appointed as advisors to handle the shortfall of approximately 81.2 million shares.
Key Points
  • Closure of rights issue under non-renounceable entitlement offer.
  • Issuance of approximately 146.6 million fully paid ordinary shares.
  • Eligible shareholders received one new share for every two shares held.
  • One free attaching option per share applied for, exercisable at $0.03 before January 2027.
  • Funds raised directed to Yataga Valley drilling program targeting copper anomalies and sulphide mineralisation.
  • Program represents first meaningful test of Yataga Intrusive Complex.
  • Post-issuance capital structure includes various listed and unlisted options.
  • Martin Place Securities and Lazarus Advisory appointed to manage shortfall.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.