AXE – Archer Materials | Aussie Stock Forums

Archer Exploration is another uranium explorer about to open on the market. Uranium South Australia is providing administration services for them and in return USA holders get priority in applying for AXE shares.

I have noticed on AXE’s homepage the priority offer has been oversubscribed and closed within 5 days. This is what what posted:

“Please Note: UraniumSA Limited Shareholders Priority Offer
Just five days after opening its Initial Public Offering (IPO) for a maximum of $7m shares, Archer Exploration Limited today announced that it had closed its Priority Offer to UraniumSA Limited shareholders heavily oversubscribed. USA shareholders had been allocated $1m of stock on a first-come-first-served basis, and the response has been overwhelming. Many applicants requested the maximum shareholder allocation of $25,000.

USA shareholders who were not successful in gaining shares under Archer’s Priority Offer will have their applications considered in the $6m Public Offer, which remains open for subscription. In particular, no shares will be formally allotted in the Priority Offer until the Public Offer closes, so Priority Applicants are urged NOT to contact Archer at this stage. Archer emphasises that no information can be provided at this stage as to whether Priority Applicants have been successful in gaining a Priority allocation.

Response to the $6m Public Offer has also been enthusiastic. The Public Offer is currently planned to remain open until Friday 27th July, but intending applicants are urged to complete their applications as soon as possible. The directors have the right to close the Public Offer early should the shares be fully subscribed before 27th July.

The prospectus is available by clicking on “Prospectus” on this page. Hard copies of the prospectuses are available by contacting Computershare on 1300 738 349 (within Australia).”

Noting that USA priority applications that have missed out will be moved over to the public offer, and that the public offer is still open and allocated on a first come first served basis, there should still be a good chance USA holders that applied will get a share of the company, hopefully.

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