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DEVELOP GLOBAL LIMITED — Capital/Financing Update 2008
Sep 7, 2008
64801_rns_2008-09-07_e95c3169-2731-4c1d-85c0-4c6213c7a7bc.pdf
Capital/Financing Update
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ABN 28 122 180 205
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5 September 2008
Dear Shareholder
NON-RENOUNCEABLE ENTITLEMENT ISSUE
Jutt Holdings Limited (the Company ) has announced to the Australian Securities Exchange Limited ( ASX ) a non-renounceable entitlement issue on the basis of one (1) new share for every four (4) shares currently held by Shareholders as at 5.00 pm WST on 12 September 2008 at an issue price of 10 cents per share together with one (1) free option for every share issued ( Entitlement Issue ).
The Entitlement Issue will result in the issue of approximately 17,255,933 new shares and 17,255,933 new options in the Company. The options will be exercisable at $0.20 on or before 31 July 2009.
The issue is conditionally underwritten by Argonaut Capital Limited.
The Prospectus relating to this issue has been lodged with the Australian Securities and Investments Commission and the ASX, and is available on the ASX website at www.asx.com.au for inspection. The timetable and important dates of the issue are set out below:
| Lodgement of Prospectus with ASIC | 3 September 2008 |
|---|---|
| Notice sent to Shareholders | 5 September 2008 |
| Ex Date | 8 September 2008 |
| Record Date for determining Shareholder entitlements | 12 September 2008 |
| Prospectus despatched to Shareholders | 16 September 2008 |
| Closing Date of Offer | 30 September 2008 |
| Securities quoted on a deferred settlement basis | 1 October 2008 |
| Notify ASX of under-subscriptions | 2 October 2008 |
| Despatch date/shares entered into Shareholders’ security holdings | 9 October 2008 |
The purpose of the issue is to raise approximately $1,725,593 (before expenses) to continue the exploration and resource development at the Company’s Liberty-Indee Project, to fund part of the consideration for the exercise of the Company’s option to acquire an additional 20% interest in the Liberty-Indee Project and for general working capital.
Registered Office Suite 1, 1233 High Street, Armadale VIC 3143 PO Box 8694, Armadale VIC 3143 Tel: +61 3 9824 5254 Fax: +61 3 9822 7735 Email: [email protected]
Perth Office
Level 1, 35 Richardson Street, West Perth WA 6005 PO Box 863, West Perth WA 6872 Tel: +61 8 6424 9188 Fax: +61 8 9463 7836 Email: [email protected]
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The capital structure of the Company on completion of the issue will be as follows:
Shares
| Shares | |
|---|---|
| Number | |
| Shares on issue at date of Prospectus | 69,023,730 |
| Shares offered pursuant to the Offer | 17,255,933 |
| Total Shares on issue after completion of the Offer | 86,279,663 |
Options
| Options | ||
|---|---|---|
| ASX Ticker | Number | |
| Quoted exercisable at $0.20 on or before 31 July 2009 | JUTO | 38,634,237 |
| Quoted exercisable at $0.10 on or before 15 June 2009 | JUTOA | 18,293,433 |
| Unquoted exercisable at $0.20 on or before 22 April 2011 |
JUTAB | 1,457,148 |
| Unquoted exercisable at $0.20 on or before 30 November 2010 |
JUTAC | 650,000 |
| Unquoted exercisable at $0.30 on or before 10 October 2008 |
JUTAM | 300,000 |
| Unquoted exercisable at $0.25 on or before 30 June 2009 |
JUTAD | 1,500,000 |
| Unquoted exercisable at $0.15 on or before 28 May 2011 |
JUTAK | 1,500,000 |
| Options offered pursuant to the Offer | JUTO | 17,255,933 |
| Total Options on issue after completion of the Offer | 79,590,751 |
In calculating entitlements under the entitlement issue, fractions will be rounded up to the nearest whole number.
The offer under the Prospectus is made to Shareholders with registered addresses in Australia and New Zealand. Overseas Shareholders should contact the Company Secretary with any queries.
Full details of the issue will be contained in the Prospectus that will be mailed to all Shareholders who are registered on the Record Date. Shareholders eligible to participate should read the Prospectus carefully.
Yours faithfully