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PROSPECT RESOURCES LIMITED — Capital/Financing Update 2018
Feb 5, 2018
65617_rns_2018-02-05_ed8839bc-e22f-44b3-a199-9343da6cbb79.pdf
Capital/Financing Update
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6 February 2018
Australian Securities Exchange Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000
By Electronic Lodgement
Notice under ASX Listing Rule 3.10.5A
As announced by Prospect Resources Limited ( Company ) today, the Company has raised approximately $10,000,000 (before costs) via a placement of 166,666,667 fully paid ordinary shares ( New Shares ) to institutional and sophisticated investors ( Placement ).
The Company issued the New Shares by utilising its placement capacity under ASX Listing Rules 7.1 and 7.1A. As such, the Company provides the following supplementary information that is required by ASX Listing Rule 3.10.5A.
| (a) | The dilution to the existing holders of fully paid ordinary shares is | The dilution to the existing holders of fully paid ordinary shares is | The dilution to the existing holders of fully paid ordinary shares is | as follows: | as follows: |
|---|---|---|---|---|---|
| Description | Number of shares | Dilution | |||
| Fully paid ordinary shares prior to issue of New Shares | 1,604,128,296 | n/a | |||
| Fully paid ordinary shares issued under ASX Listing Rule 7.1 | 6,253,838 | 0.35% | |||
| Fully paid ordinary shares issued under ASX Listing Rule 7.1A | 160,412,829 | 9.06% |
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(b) The New Shares were issued to institutional and sophisticated investors invited to participate in the Placement. The New Shares were issued for cash consideration, and raised approximately $10,000,000 (before costs) for the Company. The Company considers that this was the most efficient and low-cost mechanism to raise funds at this time.
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(c) The issue of New Shares under the Placement was not underwritten.
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(d) Fees in connection with the Placement paid to Hunter Capital Advisors Pty Ltd who acted as the sole lead manager to the Placement was 7% of the amount raised. The lead manager received part of these fees in cash and the balance in shares. The lead manager also received unlisted options for services provided in connection with the Placement and for on-going services.
Prospect Resources Limited | ACN 124 354 329
Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Phone: +61 8 9217 3300
Website: prospectresources.com.au | Email: [email protected]
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For further information, please contact:
Andrew Whitten Company secretary Prospect Resources Limited (Aus) Ph: +61 2 8072 1400
Prospect Resources Limited | ACN 124 354 329 Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Phone: +61 8 9217 3300
Website: prospectresources.com.au | Email: [email protected]