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MINBOS RESOURCES LIMITED — Capital/Financing Update 2014
Jan 13, 2014
65355_rns_2014-01-13_7d5c058c-b2e1-42c0-9026-69395b17fc9e.pdf
Capital/Financing Update
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ASX Code: MNB PERTH OFFICE Level 1, 278 Stirling Hwy Claremont WA 6010 Australia T: +61 8 9322 9295 E: [email protected] W: www.minbos.com ABN: 93 141 175 493
13 January 2014
Dear Shareholder,
RENOUNCEABLE RIGHTS ISSUE – NOTIFICATION TO ELIGIBLE SHAREHOLDERS
On 13 January 2014, Minbos Resources Limited ( Company) lodged a Prospectus ( Prospectus ) with ASX for a renounceable pro rata rights issue ( Rights Issue ) of 3 (three) fully paid ordinary shares ( New Shares ) for every 7 (seven) fully paid ordinary shares held as at 5pm (WST) on 21 January 2014 to shareholders with a registered address in Australia or New Zealand ( Eligible Shareholders ).
Pursuant to the Rights Issue, the Company will issue up to approximately 110,206,688 New Shares at an issue price of $0.01 each to raise a maximum of approximately $1.1 million before expenses of the issue. The New Shares to be issued under the Rights Issue will rank equally with existing fully paid ordinary shares in the Company.
The Rights Issue is fully underwritten by Bethesda Investment Corp and Copper Mining Venture, LDA (which is a related party of Domingos Catulichi).
A copy of the Prospectus may be viewed on the ASX Limited website at www.asx.com.au or alternatively at the Company’s website at www.minbos.com.
The Company expects the Rights Issue to be conducted in accordance with the following timetable:
| Lodgement of Prospectus with the ASIC | 10 Jan 2014 |
|---|---|
| Lodgement of Prospectus & Appendix 3B with ASX | 13 Jan 2014 |
| Notice sent to Optionholders | 14 Jan 2014 |
| Notice sent to Shareholders | 14 Jan 2014 |
| Ex date | 15 Jan 2014 |
| Rights start trading | 15 Jan 2014 |
| Record Date for determining Entitlements | 21 Jan 2014 |
| Prospectus sent out to Shareholders & Company announces this has been completed |
23 Jan 2014 |
| Rights stop trading | 31 Jan 2014 |
| Deferred trading commences | 3 Feb 2014 |
| Closing Date | 7 Feb 2014 |
| ASX notified of under subscriptions | 12 Feb 2014 |
| Issue date/Shares entered into Shareholders’ security holdings (Deferred settlement trading ends) |
17 Feb 2014 |
| Quotation of Shares issued under the Offer | 18 Feb 2014 |
The above dates are indicative only. The Company reserves the right to vary the above dated, subject to ASX Listing Rules and the Corporations Act.
ASX Code: MNB PERTH OFFICE Level 1, 278 Stirling Hwy Claremont WA 6010 Australia T: +61 8 9322 9295 E: [email protected] W: www.minbos.com ABN: 93 141 175 493
The Company intends to apply the proceeds from the Issue (together with the Company’s existing cash reserves) to progress the divestment of the Kanzi Project; to secure the renewal of the Cabinda exploration licences; exploration activities for the Western Australian phosphate tenements; repayment of some of the Company’s existing convertible notes; and general administration and working capital. Notwithstanding the above, in the event that circumstances change or other opportunities arise, the Directors reserve the right to vary the proposed use of funds to maximise benefits to shareholders.
Eligible Shareholders will receive a copy of the Prospectus and must complete the Application Form accompanying the Prospectus to take up their entitlements.
Any questions regarding the Rights Issue should be directed to the Company’s shareholder enquiry line 1800 821 475 within Australia, +61 (0) 2 8256 3395 for callers outside Australia or consult your stockbroker or professional adviser.
We look forward to your participation in the Rights Issue.
Yours faithfully MINBOS RESOURCES LIMITED Paige Exley Company Secretary