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DIGITALX LIMITED — Capital/Financing Update 2010
Jun 10, 2010
64762_rns_2010-06-10_d7c786ba-349c-4291-809c-0f2d8812693f.pdf
Capital/Financing Update
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ASX Announcement
11 June 2010
The Manager Company Announcements Office ASX Ltd 4th Floor, 20 Bridge Street SYDNEY, NSW 2000
Dear Sir,
SHARE PURCHASE PLAN
Verus Investments Limited (Verus) is pleased to announce that after successfully completing a private placement to professional and sophisticated investor clients of Minc Stockbroking, raising $1.1 million before costs, the Company will be undertaking a share purchase plan ("SPP") to accommodate existing shareholders.
The Company intends to undertake a SPP where a maximum of 200 million ordinary shares will be offered to shareholders of the Company with registered addresses in Australia and New Zealand as at close of business on Thursday, 10 June 2010. Eligible shareholders will have the opportunity to purchase up to A$15,000 of new shares each at 2.2 cents per share, the same price at which shares were issued under the Private Placement.
The proceeds from the SPP will be used for the following:
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To finance the development and drilling of additional wells in the highly prospective Fausse Point onshore oil and gas project in Louisiana
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To finance the drilling and development costs associated with the anticipated success of the Bongo Prospect in Wharton County, Texas;
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For general ongoing costs as Verus further expands its presence in the US Oil and Gas sector by future acquisition of prime low risk high reward oil and gas opportunities.
Shareholders will receive documentation in the mail detailing the application process and relevant dates.
These include:
| These include: | ||
|---|---|---|
| Initial Record Date | Monday 10 June 2010(5:00pm Perth time) | The date for determining Eligible Shareholders |
| Opening Date | 14 June 2010 | Offer opens at 9:00am (Perth time) |
| *Closing Date ** | 28 June 2010 | Offer closes at 5:00pm (Perth time) |
| Issue and DespatchDate* | 30 June 2010 | Shares under Share Purchase Plan are issued andConfirmation of transaction despatched to shareholders |
| For further information in respect of the Company’s activities, please contact: | ||
| Mr. Andrew McIlwain | Mr. Nathan Ryan | Mr. Paul Jurman/Mr. Craig Nelmes |
| Chairman | Investor Relations | Finance & Administration |
| Tel:(+61 3)9817 5067 | Tel:(+61 0)420 582887 | Tel:(+61 8)9240 8645 |
Office Address: Ground Floor, 30 Ledgar Road, Balcatta, Western Australia 6021 Postal Address: PO Box 717, Balcatta, Western Australia 6914 Phone: +61 (0)8 9240 8645 Fax: +61 (0)8 9240 2406 Email: [email protected] Web: www.verus.com.au