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MINERAL COMMODITIES LTD — Capital/Financing Update 2009
Jun 28, 2009
65371_rns_2009-06-28_eff6e81b-8eff-40c8-be84-85823a4a91a7.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
29 June 2009
The Manager Australian Stock Exchange Limited Level 4 20 Bridge Street Sydney, NSW 2000
Dear Sir
ENTITLEMENT ISSUE
The Board of Mineral Commodities Limited (MRC) advises 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 ).
The intent of the Entitlement Issue is to reward the Company’s loyal shareholders and provide additional funding to further develop the Company’s Tormin Mineral Sands Project and to provide additional working capital.
A prospectus relating to the Entitlement Issue will be sent to shareholders together with a personalised Entitlement and Acceptance Form.
The proposed timetable for the Entitlement Issue is as follows:
TIMETABLE AND IMPORTANT DATES*
| 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.
Yours faithfully
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Peter Torre Company Secretary
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