Alara Resources Limited has closed its pro-rata non-renounceable entitlement and shortfall offer, securing approximately $4.95 million from valid applications for 154,694,273 new shares. The total comfortably surpassed the company's initial targeted raise of $3.84 million.

Because of the strong response from eligible shareholders, no shortfall remains. Consequently, the investor shortfall offer will not proceed, and the partial underwriting previously arranged with Al Tasnim Infrastructure LLC is no longer required.

Alara will issue a total of 120,462,448 new shares under the offers. A scale back of applications for additional shares under the shortfall offer will be conducted at the company's discretion based on shareholder holdings. The new shares and shortfall shares are expected to be issued on 20 August 2026, and will commence trading on a normal settlement basis on 21 August 2026. Shares allocated to Mr Vikas Jain and Al Tasnim Infrastructure LLC will be issued separately by no later than 7 September 2026.

Proceeds from the capital raise will primarily fund ongoing exploration across the company's ophiolite tenements in Oman. Alara allocated $2,353,896, representing 61.3% of the entitlement offer proceeds, to ongoing exploration costs across the Block 22B, Block 8, and Daris exploration projects. The wider Omani portfolio also encompasses the Block 7 exploration licence under the Daris joint venture, alongside the Mullaq and Al Ajal exploration licences held via the Al Hadeetha joint venture.

Executive Chair Peter Lee highlighted the strong backing from investors, stating that applications arrived well in excess of available shares and calling the result "a powerful endorsement of the confidence our shareholders place in Alara's future." He added that the company looks forward to putting the funds to work across its FY27 exploration programme and thanked shareholders for their continued support.

Read the full announcement: Results of Entitlement Offer