South West Pinnacle Exploration Ltd to invest in rights issue of Alara Resources Ltd

South West Pinnacle Exploration Limited ("SWPE") (along with Mr. Vikas Jain, Promoter, Chairman & Managing Director, Mr. Piyush Jain, Promoter, Joint Managing Director), have signed a commitment letter with Alara Resources Limited, Australia ("ARL") thru its Executive Chairman Peter Lee on July 06, 2026, (hereinafter referred to as 'Agreement') to invest in/subscribe equity shares in the upcoming right issue of ARL, as approved by the Board of ARL on July 02, 2026. We shall, accordingly, be subscribing our entitlement and also the shortfall, if any in the right issue within the overall approved limit by our Board.

The aforesaid investment is subject to our commitment letter and necessary approval/permission from shareholders of ARL, Australia etc. and also applicable regulatory framework in India.

It may be noted here that the Company had earlier invested an amount of AUD 500000 and is presently holding 12,500,000 (1.56%) Shares of ARL, which was duly informed vide our earlier intimation dated July 10, 2025, by virtue of which the present right offer has been received by the Company.

Shares of South West Pinnacle Exploration Limited was last trading in BSE at Rs. 218.55 as compared to the previous close of Rs. 226.30. The total number of shares traded during the day was 22775 in over 422 trades.

The stock hit an intraday high of Rs. 229.25 and intraday low of 215.35. The net turnover during the day was Rs. 5004842.00.

Source : Equity Bulls

Keywords

SouthWestPinnacleExploration INE980Y01015 SWPE Investment RightsIssue AlaraResources