St Barbara announces retail entitlement offer withdrawal facility following profit downgrade

Company News

by Anna Napoli

Gold miner St Barbara (ASX:SBM) has announced that applicants who applied for new shares under its Retail Entitlement Offer announced on May 15 may withdraw their application for new shares by 5 pm on Friday 7 June 2019.

The move comes following the market reaction to St Barbara's Gwalia production guidance downgrade last Friday part way through its equity raising.

The downgrade came only two weeks after St Barbara reiterated production guidance at its Gwalia and Simberi mines to help launch the $490 million entitlement offer.

The Retail Entitlement Offer closes at 5pm today, Tuesday 4 June 2019.

Shares in St Barbara (ASX:SBM) are trading 1.16 per cent lower at $2.55.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.