Meridian has agreed to take a 19.99% stake in Buccaneer through the subscription of shares in the company's rights issue shortfall, raising more than A$19 million (US$17.4 million) for the Australian company.
The subscription agreement provides for an initial tranche of 386.3 million ordinary fully paid shares from the rights issue shortfall raising more than A$15.4 million.
The agreement also allows for Meridian to subscribe for an additional 99.7
