Marshall Monteagle announces rights offer and warrant issue to raise $16m

Marshall Monteagle PLC has announced a renounceable rights offer to raise up to $10.7 million by issuing 8,964,377 new ordinary shares at $1.20 per share. This represents a 28% discount to the current share price, with a ratio of one rights offer share for every four existing shares held. The offer is not underwritten and allows for excess applications.

In conjunction with the rights offer, participating shareholders will receive unlisted warrants convertible into new shares at $1.20, with a ratio of one warrant for every two rights offer shares. These warrants, exercisable until October 31, 2030, could raise an additional $5.3 million. The proceeds will be used to expand the company's stock market investments and support its physical trading business without incurring debt.

Shareholders will vote on special resolutions at a general meeting on October 6, 2025, to approve the capital increase and warrant issuance. The rights offer opens on October 20, 2025, and closes on November 7, 2025. Letters of allocation will be listed for trading on the JSE from October 15 to November 4, 2025.