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GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2010
Jun 23, 2010
65008_rns_2010-06-23_e10e7297-d0e7-4be8-a840-2304c70f82f1.pdf
Capital/Financing Update
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24 June 2010
The Company Announcements Office Australian Stock Exchange Limited Exchange Centre, Level 6, 20 Bridge Street SYDNEY NSW 2000
SHARE PURCHASE PLAN
Geopacific Resources NL (“Geopacific” or “the Company”) [ASX code GPR] is pleased to announce a Share Purchase Plan (“SPP”) at 60 cents per share which is the same price as the Placement for up to $1,500,000 which was announced yesterday
Participation in the SPP is entirely voluntary, and will provide eligible shareholders with the opportunity to subscribe (subject to relevant waivers being obtained from ASX) for up to a maximum of $15,000 worth of new shares (ranking equally with existing fully paid ordinary shares) without incurring any brokerage or other usual transaction costs. Geopacific reserves the right to scale back applications under the SPP, with a maximum subscription under the SPP set at $1,500,000.
Messrs. Charlie Bass and Tim Biggs, directors of Geopacific, will underwrite the SPP in the event that the amount raised is less than $500,000 subject to approval at a meeting of shareholders to be held before 30 July 2010. No underwriting fees will apply.
The volume weighted average price of Geopacific’s shares traded on the ASX over 14 days of trading prior to the date of this announcement was $0.6671.
Funds raised from the SPP will be used to advance the Company’s exploration activities in Fiji.
Shareholders eligible for the SPP will be those Geopacific shareholders with registered addresses in Australia and New Zealand as at 7.00pm Sydney time on Wednesday, 23 June 2010 (Record Date). Certain custodians and nominees will be able to participate on behalf of eligible beneficiaries for whom they hold Geopacific shares at the Record Date. Further details will be set out in the SPP terms and conditions to be sent to all shareholders.
The offer and SPP terms and conditions are expected to be mailed to all eligible shareholders on or about 5 July 2010. A copy of the letter will be lodged with ASX at that time.
Geopacific Resources NL ACN 003 208 393
[email protected] www.geopacific.com.au
Australia – Sydney 556 Crown St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA
The SPP is scheduled to open on 5 July 2010 and is scheduled to close at 5.00pm Sydney time on 26 July 2010.
An indicative timetable is shown below
T +61 2 9699 7311 F +61 2 9699 7322
Fiji – Nadi PO Box 9975 Nadi Airport Nadi FIJI
Geopacific Resources NL page - 1 - 24 June 2010 ASX Announcement
T +679 6 720 166 F +679 6 720 206
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: Key dates*
| Event | Date | Description |
|---|---|---|
| Announce SharePurchase Plan | Thursday, 24 June 2010 | |
| Record Date | Wednesday, 23 June 2010 | Date for determiningEligible Shareholders |
| Date of Offer | Monday, 5 July 2010 | |
| Despatch of Offer toEligible Shareholders | Monday, 5 July 2010 | |
| Opening Date | Monday, 5 July 2010 | |
| Closing Date | Monday, 26 July 2010 | Offer closes at 5.00pmSydneytime on this date |
| Issue and allot Shares | Friday, 30 July 2010 | Shares to be issued underthe SSP are allotted |
| Apply to ASX for quotationof allotted Shares | Tuesday, 3 August 2010 | |
| Despatch Date | Wednesday, 4 August 2010 | Transaction confirmationis despatched toShareholders |
*Dates are indicative only and GPR retains the right to vary each of these dates without advance notification to you. However, any alteration to these dates will be notified to the ASX.
Please telephone Dr Ian Pringle on 02 9699 7311 if you have any queries in relation to the above.
Regards
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Grahame Clegg Company Secretary, Geopacific Resources NL
Further Information
For further information please contact Dr Ian Pringle, Managing Director, on (02) 9699 7311 or [email protected]. An overview of Geopacific Resources NL can be viewed at www.geopacific.com.au.
Geopacific Resources NL ACN 003 208 393
[email protected] www.geopacific.com.au
Australia – Sydney
556 Crown St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA
T +61 2 9699 7311 F +61 2 9699 7322
Fiji – Nadi PO Box 9975 Nadi Airport Nadi FIJI
Geopacific Resources NL 24 June 2010 ASX Announcement
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T +679 6 720 166 F +679 6 720 206