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MINERAL COMMODITIES LTD — Capital/Financing Update 2009
Jul 1, 2009
65371_rns_2009-07-01_bdc6d37a-53d6-4c71-a4c4-c6ea8abfb801.pdf
Capital/Financing Update
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Mineral Commodities Ltd
ABN 39 008 478 653
Unit 15, Level 1, 51-53 Kewdale Road Welshpool, Western Australia 6106 Australia PO Box 235, Welshpool DC, WA 6986 Australia Telephone: 61 8 9353 4890 Facsimile: 61 8 9353 4894 Email: [email protected] Web: www.mncom.com.au
2 July 2009
Dear Shareholder
NON-RENOUNCEABLE ENTITLEMENT ISSUE – NOTICE TO SHAREHOLDERS
On 29 June 2009 Mineral Commodities Limited (ASX: MRC) (Company) announced that it intends to conduct a pro rata non-renounceable entitlement issue on the basis of 2 New Options for every 5 Shares held by Shareholders at an issue price of $0.005 per New Option, to raise up to approximately $286,786 ( Entitlement Issue ).
New Options under the Entitlement Issue will be offered at $0.005 each. The maximum number of New Options which may be issued under the Entitlement Issue is 57,357,208 New Options to raise approximately $286,786.
A prospectus relating to the Entitlement Issue will be sent to shareholders together with a personalised Entitlement and Acceptance Form. The Prospectus has been lodged with the Australian Securities and Investments Commission and ASX and is available on the Company website at www.mineralcommodities.com.au for inspection.
The Entitlement Issue is not underwritten.
The proposed timetable for the Entitlement Issue is as follows:
| Entity Announces Pro-rata Issue | Prior to 1 July 2009 |
|---|---|
| Lodgement of Prospectus with ASIC | 1 July 2009 |
| Notice sent to Shareholders | 2 July 2009 |
| Ex Date | 6 July 2009 |
| Record Date for determining Shareholder entitlements | 10 July 2009 |
| Prospectus despatched to Shareholders | 15 July 2009 |
| Closing Date of Offer | 29 July 2009 |
| New Options quoted on a deferred settlement basis | 30 July 2009 |
| Notify ASX of under-subscriptions | 3 August 2009 |
| Despatch date | 6 August 2009 |
- Subject to the Listing Rules, the Directors reserve the right to extend the Closing Date for the Offer at their discretion. Should this occur, the extension will have a consequential effect on the anticipated date of issue for the New Options.
** These dates are indicative only.
At the completion of the offer, Mineral Commodities Limited will have the following shares and options on issue:
Shares
| Shares | |
|---|---|
| Number | |
| Shares on issue at date of Prospectus | 143,393,021 |
| Shares offered pursuant to the Offer | Nil |
| Total Shares on issue after completion of the Offer | 143,393,021 |
Options
| Options | |
|---|---|
| Number | |
| Quoted Options exercisable at $0.20 on or before 31 December 2012 | 57,357,208 |
| Unquoted Options exercisable at $0.30 on or before 30 September 2009 |
1,750,000 |
| Unquoted Options exercisable at $0.40 on or before 30 September 2009 |
500,000 |
| Total New Options on issue after completion of the Offer | 59,607,208 |
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 detail 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.
For further information, please contact our office on (08) 9353 4890 during normal business hours.
Yours sincerely
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Mr Greg Steemson Managing Director Mineral Commodities Limited
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