Magnetite Mines Limited (ASX: MGT) announced on 22 October 2026 that it has brought forward the closing date for its Share Purchase Plan (SPP). Magnetite Mines Limited is an ASX-listed iron ore exploration and development company, focused on large-scale magnetite projects in South Australia. The amended closing date for the SPP, initially announced on 28 September 2026, is now Friday, 23 October 2026, at 5.00pm Sydney time, a day earlier than previously scheduled. Eligible shareholders wishing to participate are advised to ensure their applications and payments are received by this new deadline.
Under the terms of the SPP, eligible shareholders have the opportunity to subscribe for up to A$30,000 worth of new shares. This offer comes with a discount to the market price and allows participation without incurring brokerage or transaction costs. A significant incentive for participants is the provision of one free attaching option for every new share issued, contingent upon shareholder approval at the Company’s upcoming Annual General Meeting. These options will feature an exercise price set at a 25% premium to the SPP Issue Price and are slated to expire on 31 December 2029. Magnetite Mines Limited intends to apply for quotation of these options on the ASX.
The company also released an amended indicative timetable for the SPP. Following the new closing date on Friday, 23 October, the SPP completion announcement, including any potential scale-backs, is expected on Wednesday, 28 October 2026. The allotment of new SPP shares is then anticipated for Friday, 30 October 2026, with these shares projected to commence trading on the ASX from Monday, 2 November 2026. Magnetite Mines stressed that these dates are indicative only, subject to change, and in some cases, further approvals. The company reserves the right to amend this timetable, extend the closing date, accept late applications, or vary the SPP without prior notice.
