Shaw and Partners has been appointed as a Joint Lead Manager and Underwriter to a capital raising by Bowen Coking Coal Limited (ASX.BCB).

The Company is raising approximately A$70 million comprising 2.66 for 1 pro rata renounceable entitlement offer with 1 free attaching new option for every 2 New Securities subscribed for to raise approximately A$70 million before costs (“Entitlement Offer”). The Entitlement Offer is partially underwritten by the Joint Lead Managers up to $40.5 million.

New securities issued under the Offer will be issued at $0.009 per share. The Offer Price reflects a 25.0% discount to the last traded price on 13 September 2024 of A$0.012 and 8.3% discount to TERP of A$0.0098.

Proceeds from the entitlement offer will provide Bowen with balance sheet flexibility to fund the Plumtree North mine development costs at the Company’s Burton Mine Complex, pre-payments, guarantees and general working capital.

Bowen Coking Coal Limited has established a strategic position in Queensland’s Bowen Basin. The Company’s Burton Mine Complex (90% owned) near Moranbah encompasses multiple operations with the Ellensfield South, Plumtree North and Broadmeadow East Mines serving a co-located Coal Handling and Preparation Plant and train load out facility connected by a dedicated haul road. Additionally, Bowen fully owns the Bluff PCI Mine near Blackwater (in care and maintenance) and holds the Isaac River (100%), Hillalong (85%) Cooroorah (100%), Carborough (100%) and Comet Ridge (100%) coking coal projects and is a joint venture partner in Lilyvale (15% interest) and Mackenzie (5% interest) with Stanmore Resources Limited.

The issuer of the securities is Bowen Coking Coal Limited. Offers of the securities will be made in (or accompanied by) a copy of the Prospectus, available at https://www.bowencokingcoal.com.au/wp-content/uploads/2024/10/Entitlement-Offer-Prospectus.pdf and you should consider the disclosure document carefully before deciding whether to acquire the securities. To acquire securities under the offer investors will need to complete an application process detailed in the disclosure document.

The issuer of the securities is Bowen Coking Coal Limited. Offers of the securities will be made in (or accompanied by) a copy of the Prospectus, available at https://www.bowencokingcoal.com.au/wp-content/uploads/2024/10/Entitlement-Offer-Prospectus.pdf and you should consider the disclosure document carefully before deciding whether to acquire the securities. To acquire securities under the offer investors will need to complete an application process detailed in the disclosure document.