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Alliance Mineral requests trading halt pending an announcement
CATALIST-LISTED miner Alliance Mineral Assets requested a trading halt on Tuesday morning just before the market opened, pending the release of an announcement “in relation to a corporate update”.
The company’s last announcement was the formal change of its name to Alita Resources Limited after getting shareholders' approval at its extraordinary general meeting on July 11.
It also announced its receipt of a new certificate of registration from the Australian Securities and Investments Commission, effective July 16. Its ASX and SGX code, registered office and contact details remain unchanged.
The company’s shares closed at S$0.123 on Monday, down 0.2 Singapore cent or 1.6 per cent.
In May, the Singapore Exchange (SGX) granted approval for the listing and quotation of up to 168.6 million new shares from strategic placements to raise A$32.5 million (S$31.1 million), issued to Australia-listed Galaxy Resources Ltd and a subsidiary of China-based Jiangxi Special Electric Motor Co (Jiangte).
The institutional placement with Galaxy Resources comprises the issue of 112.5 million shares, bumping up its 4.73 per cent stake in Alliance Mineral to 11.83 per cent of its enlarged issued share capital, and making it Alliance Mineral’s largest shareholder.