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Horizon Gold Limited (ASX:HRN)

ALERT: Price-sensitive ASX Announcement for HRN
Current share price for HRN : $0.940 -0.36 (-27.69%)+
Announcement
Release
4 Mar 2026 9:44AM
Price at Release
$1.300
Full Release
download
Summary
Horizon Gold Limited issued an Offer Document for a non-renounceable pro-rata entitlement offer of New Shares priced at $1.20 each, allowing shareholders to acquire one new share for every twenty shares held as of the record date. The offer opens on 12 March 2026 and closes on 26 March 2026. This initiative is pursued without a prospectus under section 708AA of the Corporations Act, enabling Horizon Gold Limited to issue shares without full disclosure. Joint Lead Managers are appointed to the offer, which includes terms and conditions such as payment methods via BPAY® or EFT for eligible shareholders. The document presents various risk factors specific to the company and the resource sector, as well as potential effects on shareholder dilution and company control, particularly involving major shareholder Zeta Resources Limited.
Key Points
  • Non-renounceable pro-rata entitlement offer at $1.20 per share.
  • Offer opens on 12 March 2026 and closes on 26 March 2026.
  • No prospectus due to section 708AA of the Corporations Act.
  • Joint Lead Managers: Evolution Capital Pty Ltd and Sternship Advisers Pty Ltd.
  • Payment by BPAY® or EFT required by closing date.
  • Risk factors include tenure, operating risks, and economic conditions.
  • Shareholder dilution expected if Entitlements are not fully subscribed.
  • Zeta Resources Limited's potential voting power reduction from 71.08% to 65.7%.
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.