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Nickel Industries has received a "No objection notification" from the Foreign Investment Review Board (FIRB) allowing for the 270 million USD share placement to Shanghai Decent as part of their acquisition of a 10% stake in PT Huayue Nickel Cobalt.
A meeting for shareholder approval is set for 5th July 2023, and if the issuance is agreed upon, Shanghai Decent will receive 381,365,628 shares thereby increasing their equity interest in Nickel Industries to 28.09%.
Additionally, Nickel Industries has entered a share subscription agreement with PT United Tractors through its subsidiary, the execution of which is conditional upon the completion of the HNC Acquisition. The issue of these new shares could raise proceeds of 943 million AUD, equivalent to 19.9% of the enlarged capital of the Company. A meeting for shareholder approval is expected soon.
Conditional 19.99% placement to PT United Tractors Tbk through its subsidiary, PT Danusa Tambang Nusantara, raising A$943 million at a 27.2% premium to Nickel Industries' last traded price.
Nickel Industries and DTN have executed a Collaboration Agreement covering 20% direct investment in the Excelsior Nickel Cobalt Project and potential future Indonesian nickel mining and processing initiatives.
UT's significant resources, local knowledge, and industry expertise make them an ideal long-term partner for Nickel Industries' future growth plans.
Nickel Industries Limited has accepted valid tenders for US$79,392,000 of its existing US$325m senior unsecured notes due for April 2024 at a Purchase Price of 102%.
After issuing US$400 million senior unsecured notes, refinancing US$225m senior secured notes, and completing the Concurrent Tender Offer, the Company removed all secured debt and simplified its capital structure.
The Company now holds US$400m of New Notes maturing on 21 October 2028 and US$246 million of Target Notes maturing on 1 April 2024, positioning itself for strong growth in Class 1 Nickel production.
The Institutional Placement was strongly supported by both new and existing institutional shareholders.
Settlement of the Institutional Placement is scheduled for Monday 23 January 2023, with New Shares expected to be allotted on Tuesday 24 January 2023 and trading of those shares to commence on a normal settlement basis on the same day.
The Institutional Placement is the first component of a US$4 71 million capital raise (~A$673 million) (“Equity Raise”) announced on Wednesday 18 January 2023.
The Directors of Nickel Industries Limited are pleased to advise that the Company has executed an Electric Vehicle Battery Supply Chain Strategic Framework Agreement with Shanghai Decent Investment (Group) Co., Ltd.
Nickel Industries has entered into binding agreements with Shanghai Decent to acquire 10% interests in two producing nickel assets.
The Company has announced a US$471 million capital raise.