Rox Resources Secures $0.35 Share Price Waiver for December Capital Raise
Rox Resources secures ASX waiver allowing a discounted Share Purchase Plan without shareholder approval, enabling eligible investors to buy shares at $0.35 each. This move streamlines capital raising while limiting dilution to around 2.5%.
- ASX grants waiver for Rox’s Share Purchase Plan under Listing Rule 7.1
- SPP shares priced at $0.35, below 80% of 5-day VWAP, matching placement price
- Waiver means no shareholder approval needed and no impact on placement capacity
- SPP capped at 30% of existing shares, causing approximately 2.5% dilution
- SPP timetable set for December 2025 with shares issued by 23 December
ASX Waiver Unlocks Rox’s Share Purchase Plan
Rox Resources Limited has received a crucial waiver from the Australian Securities Exchange (ASX) that allows it to proceed with its Share Purchase Plan (SPP) without the need for shareholder approval. The waiver relates to Listing Rule 7.1, which normally restricts issuing shares at a price below 80% of the recent volume weighted average price (VWAP) without prior shareholder consent.
The SPP, launched on 14 November 2025, offers shares at $0.35 each, a price set at a 20.3% discount to the company’s 5-day VWAP prior to the announcement. The ASX’s approval means Rox can issue these shares without impacting its placement capacity, streamlining the capital raising process and avoiding delays.
Equal Opportunity for Shareholders
The waiver ensures that eligible retail shareholders can participate on the same terms as institutional and sophisticated investors who took part in the concurrent placement. Rox emphasized the importance of equity among shareholders, noting that the SPP’s voluntary nature and application limits help mitigate dilution concerns.
The total dilution from the SPP is expected to be approximately 2.5%, which Rox considers manageable given the capital raising benefits. The company also highlighted compliance with ASIC’s Share and Interest Purchase Plans Instrument 2019/547, ensuring regulatory standards are met aside from the pricing exception.
Timetable and Next Steps
With the waiver in place, Rox has confirmed the SPP timetable, the offer booklet will be dispatched on 3 December 2025, the plan opens the same day, and closes on 16 December. Results will be announced on 19 December, with shares issued by 23 December.
Rox reserves the right to adjust these dates if necessary, which could affect the capital raising’s timing and market reception. Investors will be watching closely to see the level of participation and how the market responds to the new shares.
Strategic Implications
This waiver and the resulting SPP reflect Rox’s strategic approach to capital management, balancing the need for fresh funds with shareholder fairness and regulatory compliance. By avoiding shareholder approval delays, Rox can act swiftly to fund its exploration and development activities, a critical factor in the competitive mining sector.
However, the discounted pricing and dilution effects will remain under scrutiny as the company moves forward, with market sentiment likely to hinge on the success of the capital raising and subsequent operational progress.
Bottom Line?
Rox Resources’ ASX waiver accelerates its capital raise, but investors will watch closely for subscription levels and market reaction.
Questions in the middle?
- Will the SPP achieve full subscription given the discounted price?
- How will the market respond to the approximately 2.5% dilution from the SPP?
- Could timing adjustments to the SPP affect Rox’s broader capital strategy?
