Paladin Energy Ltd (ASX:PDN) has filed an updated Appendix 3B disclosing a change in the number of shares proposed to be issued under a placement, revising the figure to 3,280,840 ordinary fully paid shares at an issue price of CAD 7.62 per share, with a proposed issue date of 19 November 2026.

Key Points

  • The number of ordinary shares proposed to be issued has been updated to 3,280,840, amending a previous announcement dated 12 November 2026.
  • The issue price is CAD 7.62 per share, with an AUD equivalent of AUD 7.80 per share, based on a foreign exchange rate of AUD 1.00 to CAD 0.9767.
  • The placement is a TSX bought deal, fully underwritten by RBC Capital Markets and National Bank Financial (the Canadian Underwriters), who will receive an underwriting fee of 4% of gross proceeds.
  • The entire placement of 3,280,840 securities is proposed to be issued using the company's 15% placement capacity under ASX Listing Rule 7.1, without security holder approval.
  • Proceeds are intended to fund ongoing development of the PLS Project, advance exploration opportunities, and repay existing debt.

Update to Previous Placement Announcement

Paladin Energy filed an updated Appendix 3B on 13 November 2026, amending its earlier filing dated 12 November 2026. The sole reason for the update is a change in the number of shares proposed to be issued. The updated filing specifies 3,280,840 ordinary fully paid shares in the existing ASX-quoted class under the ticker PDN. The securities will rank equally in all respects from their issue date with existing issued securities in that class. No security holder approval is being sought for the placement, with the entire issue utilising the company's 15% placement capacity under ASX Listing Rule 7.1.

Placement Pricing and Underwriting Arrangements

The placement is priced at CAD 7.62 per share, with an AUD equivalent of AUD 7.80 per share, calculated using a foreign exchange rate of AUD 1.00 to CAD 0.9767. The placement is structured as a TSX bought deal and is fully underwritten by RBC Capital Markets and National Bank of Canada Capital Markets, collectively referred to as the Canadian Underwriters. The Canadian Underwriters will receive an underwriting fee of 4% of gross proceeds from the TSX bought deal. No fee, commission or other consideration is payable to them in their capacity as lead managers or brokers. Standard share registry fees, legal, adviser, and ASX/TSX administrative fees are also disclosed as costs to be incurred.

Use of Proceeds and Proposed Issue Date

According to the filing, the purpose of the securities issue is to fund the ongoing development of the PLS Project, advance exploration opportunities, and enhance balance sheet flexibility through the repayment of existing debt. The proposed issue date is 19 November 2026. The filing states that any on-sale of the securities within 12 months of issue will comply with secondary sale provisions of the Corporations Act by virtue of the publication of a cleansing notice. The company disclosed that no changes to its dividend or distribution policy are proposed if the placement proceeds.