Global Resource Masters Fund is placing nearly $25 million in shares to clients of financial planning firm Dixon Advisory & Superannuation Services.
The company said the capital raising will allow it to diversify its portfolio as well as lead to a reduction in administrative overheads per share “by spreading those costs over a larger base and over time enhance liquidity in the secondary market”.
However, the capital raising, which sits at $24,759,521, may be boosted by approximately $254,280 as certain company directors have indicated that they would like to be issued with 156,000 new ordinary shares in the company on the same terms as the share placement.
Such a move will require shareholder approval to be sought at a general meeting in July or August.
Global Resource’s investments are managed by Dixon Advisory, while managing director Alex MacLachlan is also managing director, funds management, at Dixon Advisory.
