Alice Queen Limited has pushed back the closing date for its partially underwritten rights issue to 19 June 2026, giving shareholders more time to subscribe at 0.9 cents per share.
- Rights issue closing date extended to 19 June 2026
- Offer price remains 0.9 cents per share
- One new share offered for every three held
- Record date fixed at 11 May 2026
- New shares expected to be issued by 26 June
Rights Issue Closing Date Extended Again
Alice Queen Limited (ASX:AQX) has once more extended the closing date for its partially underwritten, non-renounceable pro rata entitlement offer. The new deadline for shareholders to participate is now 19 June 2026, pushed back from earlier dates to provide eligible shareholders with additional time to consider the offer.
The rights issue allows shareholders to subscribe for one fully paid ordinary share for every three shares held as of the record date, 7.00pm on 11 May 2026, at an issue price of 0.009 dollars (0.9 cents) per share. This price remains unchanged despite the extension.
Capital Raising Details and Timetable Updates
The offer is partially underwritten by GBA Capital Pty Ltd, with the company consulting closely with the underwriter before deciding on the extension. The move aims to facilitate greater shareholder participation in the capital raising, which is expected to raise up to $5.77 million to support Alice Queen’s exploration activities, particularly at its Horn Island gold project.
New shares issued under the rights issue will be quoted on a deferred settlement basis from market open on 22 June 2026, with final results to be announced and new shares issued by 26 June 2026. This timetable adjustment follows previous extensions, indicating ongoing efforts to maximise shareholder uptake.
Implications for Shareholders and Company Strategy
While the extension provides shareholders with more time to evaluate the offer, it also signals that uptake may not yet have reached desired levels. The rights issue proceeds remain earmarked primarily for advancing drilling and resource development at Horn Island, where Alice Queen has identified significant gold resources.
Shareholders should watch for the final subscription results after the new closing date, which will clarify the level of support for the capital raise and potentially influence the company’s near-term funding position and exploration plans.
Bottom Line?
The extended deadline offers shareholders more time but raises questions about subscription momentum ahead of finalising the $5.77 million raise.
Questions in the middle?
- Will the extended closing date lead to stronger shareholder participation?
- How much of the rights issue remains unsubscribed and subject to underwriting?
- What impact will the final raise amount have on Horn Island exploration timelines?