Staff Writer
Bannerman Energy has raised A$440 000 (approximately N$5 million) through its share purchase plan, with 39 shareholders participating in the offer.
The company said all 39 valid applications were accepted in full, resulting in the issue of 110 000 new fully paid ordinary shares on 9 October 2026 at A$4 per share.
The share purchase plan closed on 2 October 2026 and was open to 5 895 eligible shareholders.
The offer followed Bannerman’s A$124 million institutional placement announced on 10 September 2026, which was fully underwritten.
Bannerman managing director and chief executive officer Gavin Chamberlain thanked shareholders who participated in the share purchase plan.
“With the Placement and SPP now complete, and our strategic investment and joint venture with CNOL completed in September, Bannerman is fully funded for its share of forecast Etango working capital through construction and ramp-up,” Chamberlain said.
He said early works at the Etango project were continuing according to budget and schedule, with the company making final preparations for a targeted final investment decision in the fourth quarter of 2026.
Bannerman is developing the Etango uranium project in Namibia.
The company said end-of-month holding statements were expected to be dispatched during the week commencing 2 November 2026, in line with each shareholder’s communication preferences.
