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Talga Resources (ASX:TLG) - Managing Director, Mark Thompson - The Market Herald
Managing Director, Mark Thompson
Source: ABC
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  • Talga Group (TLG) is pushing ahead with plans to raise up to $10 million in additional equity via a share purchase plan (SPP)
  • The company raised $25 million last week through a placement to sophisticated, professional and institutional investors
  • The SPP will allow eligible shareholders to subscribe for $30,000 worth of new shares at $1.45 each
  • That represents a 17.8 per cent discount to the company's previous closing price of $1.76 on December 15
  • All of the funds raised from the SPP and placement will be spent developing the battery company's Vittangi Anode Project in Sweden
  • TLG shares have ended the day down 4.57 per cent at $1.57 each

Talga Group (TLG) is pushing ahead with the next stage of its previously announced capital raise — a share purchase plan (SPP).

The battery anode company raised $25 million last week through the placement to sophisticated, professional and institutional investors.

The business is now planning to raise an additional $10 million via the SPP for eligible TLG shareholders.

Under the plan which opens today, shareholders are invited to subscribe for $30,000 worth of new shares at $1.45 each.

That price represents a 17.8 per cent discount to the company's previous closing price of $1.76 per share on December 15.

Talga advises the SPP will close on January 15, with the results to be announced shortly after on January 20. Shares will then settle one week later on January 27.

All of the funds raised from the equity raises will be spent developing the company's Vittangi Anode Project in Sweden.

Once completed in 2022, the project will run on 100 per cent renewable energy and produce ultra-low emission coated anode for lithium-ion batteries.

Shares in Talga Group have ended the day down 4.57 per cent at $1.57 each.

TLG by the numbers
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