Orica opens AU$75 million share purchase plan to its shareholders

Orica Limited (ASX: ORI) announced that it would undertake a share purchase plan following the completion of an AU$650 million placement to eligible institutional investors. All shareholders  which are eligible for the share purchase plan, can apply for up to AU$30,000 of new fully paid ordinary shares and shares offered under the plan are free from any brokerage cost commission, and transaction costs. The plan will be capped at AU$75 million and is not underwritten.

Shares offered under the SPP will be lower of:

• The price, shares were issued under the Placement (which was AU$16.00 per share); and
• A 2.00% discount to the 5-day volume-weighted average price of its shares up to, and comprising, the closing date of the plan, which is currently scheduled for Friday, 26 August 2022.

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