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26 Feb 2020

Media Release: Clayton Utz advises Euroz on Energy Resources of Australia's A$476m capital raising

Perth, 26 February 2020: Clayton Utz has advised Euroz Securities Limited as broker in connection with a successful A$476m capital raising by ASX-listed Energy Resources of Australia Ltd (ERA). The raising was announced on 15 November 2019 and completed yesterday.

Clayton Utz corporate partner Mark Paganin and special counsel Stephen Neale led the firm's team. 

The raising comprised a 6.13 for 1 pro rata renounceable entitlement offer. Euroz Securities Limited conducted the shortfall bookbuild to institutional and sophisticated investors under the entitlement offer.  ERA will use the proceeds of the raising for the purpose of funding the rehabilitation of the Ranger Project Area.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.