AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

ARIKA RESOURCES LIMITED Capital/Financing Update 2008

Mar 10, 2008

64420_rns_2008-03-10_af62fced-df1d-4d13-8aa5-81487e3fc2ad.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [120 x 56] intentionally omitted <==

Announcement

Portland Orthopaedics Resets Price on Share Purchase Plan

Funds to boost US and Australian sales expansion

11 March 2008, Sydney: Portland Orthopaedics Limited (ASX:PLD) has reset the price for new shares under the Share Purchase Plan ( “SPP”) it announced on the 29 February 2008. For shareholders at the record date, 11 March 2008, new shares under the SPP will be issued at 7.5 cents per share, 14% discount to the closing share price on 10 March 2008, an 18% discount to the 5 day average closing share price on 10 March 2008 and a 20% discount to the 5 day volume weighted average price (5 day VWAP).

Amounts will be rounded up to the nearest share.

The date of commencement of the SPP is 12[th] March 2008. The closing date is 9th April 2008. Information and documents to enable take-up, will be mailed to all shareholders on the 12[th] of March 2008.

Portland CEO John Brassil said, “This is a unique opportunity for loyal shareholders to take advantage of market conditions and the current undervaluing of the stock to achieve an exposure that I am confident will return to them a mid to long term profit. I encourage shareholders to read recent investor announcements. The funds raised in the SPP will support further investment in inventory to enable the projected rapid sales growth in Australia and the USA.”

Portland Chairman, John Lee said “I encourage shareholders to read the documents they receive carefully and if they have any questions to speak to the company, their personal advisors or to Computershare.”

Enquiries: