Sarama Provides ASX Compliance Update
Sarama Resources (ASX:SRR, TSX-V:SWA) has reported an inadvertent breach of ASX Listing Rules related to its recent capital raising. The company announced a A$1 million Placement on June 19, 2024, comprising two tranches. Tranche 1, involving 45,000,000 CDIs at A$0.02 each, was issued on June 25, 2024. However, Sarama discovered it had mistakenly issued a portion of Tranche 1 CDIs under Listing Rule 7.1A, which had recently lapsed.
As a result, Sarama has breached Listing Rule 7.1 and is now subject to a Placement Holiday until February 2, 2025. The company cannot issue new securities under Listing Rules 7.1 and 7.1A during this period, except for specific exceptions. Sarama is committed to ensuring future compliance and has taken remedial actions to prevent similar breaches.
Sarama Resources (ASX:SRR, TSX-V:SWA) ha riportato una violazione involontaria delle Norme di Quotazione ASX relativa alla sua recente raccolta di fondi. L'azienda ha annunciato un Placement di A$1 milione il 19 giugno 2024, composto da due tranche. La Tranche 1, che coinvolge 45.000.000 CDI a A$0,02 ciascuno, è stata emessa il 25 giugno 2024. Tuttavia, Sarama ha scoperto di aver emesso erroneamente una parte della Tranche 1 dei CDI ai sensi della Normativa di Quotazione 7.1A, che era recentemente scaduta.
Di conseguenza, Sarama ha violato la Normativa di Quotazione 7.1 e ora è soggetta a un Placement Holiday fino al 2 febbraio 2025. L'azienda non può emettere nuovi titoli ai sensi delle Normative di Quotazione 7.1 e 7.1A durante questo periodo, ad eccezione di specifiche eccezioni. Sarama è impegnata a garantire la conformità futura e ha intrapreso azioni correttive per prevenire violazioni simili.
Sarama Resources (ASX:SRR, TSX-V:SWA) ha reportado una infracción involuntaria de las Normas de Cotización de ASX relacionada con su reciente aumento de capital. La compañía anunció un Placement de A$1 millón el 19 de junio de 2024, compuesto por dos tramos. El Tramo 1, que involucra 45.000.000 CDI a A$0,02 cada uno, se emitió el 25 de junio de 2024. Sin embargo, Sarama descubrió que había emitido erróneamente una parte del Tramo 1 de CDIs bajo la Norma de Cotización 7.1A, que había caducado recientemente.
Como resultado, Sarama ha violado la Norma de Cotización 7.1 y ahora está sujeta a un Placement Holiday hasta el 2 de febrero de 2025. La compañía no puede emitir nuevos valores bajo las Normas de Cotización 7.1 y 7.1A durante este período, excepto en excepciones específicas. Sarama está comprometida a asegurar el cumplimiento futuro y ha tomado medidas correctivas para prevenir infracciones similares.
사라마 리소스(Sarama Resources) (ASX:SRR, TSX-V:SWA)는 최근 자본 조달과 관련해 ASX 상장 규칙의 우발적인 위반을 보고했습니다. 회사는 2024년 6월 19일에 100만 호주 달러의 배치를 발표했으며, 이는 두 개의 분할로 구성되어 있습니다. 1분할은 2024년 6월 25일에 각각 A$0.02에 45,000,000 CDI가 발행되었습니다. 그러나 사라마는 상장 규칙 7.1A에 따라 1분할 CDI의 일부를 실수로 발행했다는 사실을 발견했습니다, 이는 최근에 만료되었습니다.
그 결과 사라마는 상장 규칙 7.1을 위반했습니다 및 현재 2025년 2월 2일까지의 배치 휴가(Placement Holiday)를 받고 있습니다. 이 기간 동안 회사는 상장 규칙 7.1 및 7.1A에 따라 새로운 증권을 발행할 수 없으며, 특정 예외를 제외합니다. 사라마는 향후 준수를 보장하기 위해 노력하고 있으며 유사한 위반을 방지하기 위한 시정 조치를 취했습니다.
Sarama Resources (ASX:SRR, TSX-V:SWA) a signalé une violation involontaire des Règlements de Cotation de l'ASX liée à son récent levée de fonds. La société a annoncé un placement de 1 million AUD le 19 juin 2024, comprenant deux tranches. La Tranche 1, impliquant 45.000.000 CDI à 0,02 AUD chacun, a été émise le 25 juin 2024. Cependant, Sarama a découvert qu'elle avait erronément émis une partie des CDI de la Tranche 1 selon la Règle de Cotation 7.1A, qui avait récemment expiré.
En conséquence, Sarama a enfreint la Règle de Cotation 7.1 et est maintenant soumise à un arrêt de placement jusqu'au 2 février 2025. La société ne peut pas émettre de nouveaux titres selon les Règles de Cotation 7.1 et 7.1A durant cette période, sauf pour des exceptions spécifiques. Sarama s'engage à garantir la conformité à l'avenir et a pris des mesures correctives pour éviter des violations similaires.
Sarama Resources (ASX:SRR, TSX-V:SWA) hat einen unabsichtlichen Verstoß gegen die ASX-Notierungsregeln im Zusammenhang mit der jüngsten Kapitalbeschaffung gemeldet. Das Unternehmen kündigte am 19. Juni 2024 einen Platzierungsbetrag von 1 Million AUD an, der aus zwei Tranchen besteht. Tranche 1, die 45.000.000 CDs zu je 0,02 AUD umfasst, wurde am 25. Juni 2024 ausgegeben. Sarama stellte jedoch fest, dass sie fälschlicherweise einen Teil von Tranche 1 CDs gemäß der Notierungsregel 7.1A ausgegeben hatte, die kürzlich abgelaufen war.
Infolgedessen hat Sarama die Notierungsregel 7.1 verletzt und unterliegt jetzt einem Platzierungsurlaub bis zum 2. Februar 2025. Das Unternehmen kann während dieses Zeitraums keine neuen Wertpapiere gemäß den Notierungsregeln 7.1 und 7.1A ausgeben, außer in bestimmten Ausnahmen. Sarama verpflichtet sich zu einer zukünftigen Einhaltung und hat Abhilfemaßnahmen ergriffen, um ähnliche Verstöße zu verhindern.
- Successful completion of Tranche 1 capital raising, issuing 45,000,000 CDIs and raising A$900,000
- Planned Tranche 2 to raise an additional A$100,000, subject to shareholder approval
- Company intends to seek shareholder approval for additional 10% placement capacity at upcoming AGM
- Inadvertent breach of ASX Listing Rules 7.1 and 7.1A
- Placement Holiday imposed until February 2, 2025, restricting ability to issue new securities
- Unable to seek ratification of Tranche 1 CDIs to refresh placement capacity
- Potential impact on future capital raising abilities due to restrictions
VANCOUVER, BC / PERTH. AUSTRALIA / ACCESSWIRE / July 22, 2024 / Sarama Resources Ltd. ("Sarama" or the "Company") (ASX:SRR)(TSX-V:SWA) refers to its capital raising announced on 19 June 2024, which comprises the issue of up to 50,000,000 CHESS Depository Interests (CDIs) at an issue price of A
Tranche 1: 45,000,000 CDIs at A
$0.02 per CDI raising gross proceeds of A$900,000 (before costs) purportedly pursuant to Australian Securities Exchange ("ASX") Listing Rules 7.1 (27,588,325 CDIs) and 7.1A (17,411,675 CDIs). The Tranche 1 CDIs were issued on 25 June 2024.Tranche 2: up to 5,000,000 CDIs at A
$0.02 per CDI to raise gross proceeds of up to A$100,000. T he issue of the Tranche 2 CDIs is subject to the receipt of prior shareholder approval.
In connection with the preparation of the meeting materials for the Company's 2024 annual general meeting, Sarama has become aware that it had inadvertently agreed to issue a portion of the Tranche 1 CDIs in breach of Listing Rule 7.1A noting that at the relevant time its Listing Rule 7.1A mandate approval (as approved by shareholders at the Company's 2023 annual general meeting) had just recently lapsed by 13 days.
Upon becoming aware of this breach, the Company notified the ASX. As noted to the ASX, Sarama is British Columbia incorporated and its practice has been to hold its annual general meeting in accordance with Canadian law requirements (rather than the customary 12 months in Australia, which is the maximum approval period for the Listing Rule 7.1A mandate). In that regard, the Company reiterates that the oversight was an honest and genuine mistake. The Company confirms that the breach does not affect the terms of those Tranche 1 CDIs issued pursuant to Listing Rule 7.1A nor the status of the Placement.
ASX has advised the Company that given Sarama did not have the ability to issue those Tranche 1 CDIs under Listing Rule 7.1A, the Company has consequently breached Listing Rule 7.1 noting that, at the time of the agreement to issue those Tranche 1 CDIs under Listing Rule 7.1A, it did not have sufficient available capacity under Listing Rule 7.1 to cover the purported issue under Listing Rule 7.1A. As a consequence of the breach, the Company is precluded from issuing any new securities under Listing Rules 7.1 and 7.1A until 2 February 2025, unless the issue comes within an exception in Listing Rule 7.2 (Placement Holiday).
It is noted that the Company intends to seek shareholder approval pursuant to Listing Rule 7.1A for the additional
The Company is committed to ensuring future compliance with Listing Rules 7.1 and 7.1A. To that end, the Company has taken appropriate remedial action (including an assessment of its current corporate governance policies, which it believes are sufficient) to ensure such a breach does not occur in the future. The Company will undertake regular assessments of its placement capacity to mitigate further breaches of the ASX Listing Rules.
This announcement was authorised by the Board of Sarama.
For further information, please contact:
Andrew Dinning
Sarama Resources Ltd
e: info@saramaresources.com
t: +61 8 9363 7600
SOURCE: Sarama Resources Ltd.
View the original press release on accesswire.com
FAQ
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