Australia's SensOre slumps on discounted placement and asset privatisation

PLC Resources

18/12/2023 03:24

** Shares of SensOre  S3N.AX  fall as much as 26.9% to
A$0.095, hitting their lowest level since Dec. 8
    ** Stock currently down 11.5%, faces worst day since Nov. 1,
if losses hold
    ** Mining services provider says board decided on strategic
division of exploration and technology assets by privatising
technology assets
    ** Co adds it received binding commitments for a A$3
mln($2.01 mln) placement at an issue price of A$0.105 per share
    ** Issue price represents a discount of 19.2% to last close
    ** Around 304,048 shares change hands, 12.3 times the 30-day
average volume of 24,779 shares
    ** Stock has fallen 63.9% YTD, as of last close

($1 = 1.4910 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))