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PTR MINERALS LTD Capital/Financing Update 2012
65621_rns_2012-09-18_a3236243-5ff6-4c21-9021-801da9ca82ac.pdf
Capital/Financing Update
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19 September 2012
NON-RENOUNCEABLE RIGHTS ISSUE
Petratherm Ltd (Company) is pleased to announce a capital raising by way of a non-renounceable pro rata rights issue at an issue price of $0.03 per new share on the basis of one new share for every three ordinary shares held, with one free attaching option being issued for every one new share issued. Under this offer, a maximum of 49,577,194 shares will be issue to raise up to $1,487,316. Funds raised from the rights issue will be used to pay the costs of the issue, potential new project acquisition and for working capital purposes.
The issue price of the new shares under the rights issue represents a 23.08% discount to the closing price of $0.039 per Share on the day before the Offer was announced to ASX.
Each shareholder registered on the Company's register of members at 5.00 pm (CST) on 28 September 2012 (Record Date) will be entitled to subscribe for one new fully paid ordinary share in the Company for every three ordinary shares held as at the Record Date at a price of $0.03 per new share. Please note that the Company's shares will be quoted on an 'ex' basis from 24 September 2012, and therefore any of the Company's shares bought on market on and after this date will not be entitled to participate in the rights issue.
In addition to being able to apply for new shares under the rights issue, eligible shareholders who take up their full entitlement under the rights issue will also have the opportunity to apply for additional new shares that are not subscribed for under the rights issue.
Each attaching option will have an exercise price of $0.03 and an expiry date two years after the date of grant. The Company will apply for the attaching options to be quoted on ASX.
The rights issue is not underwritten.
The indicative timetable for the rights issue is as follows:
| Event | Date |
|---|---|
| ASX Announcement | 19 September 2012 |
| Prospectus lodged with ASIC and ASX | 19 September 2012 |
| Appendix 3B lodged with ASX | 20 September 2012 |
| Appendix 3B Notice sent to Shareholders | 21 September 2012 |
| Shares quoted on 'ex' basis | 24 September 2012 |
| Record Date for Offer participation | 28 September 2012 |
| Prospectus and Entitlement and Acceptance Form despatched to EligibleShareholders and Opening Date of the Offer | 4 October 2012 |
| Proposed Closing Date of the Offer (5.00 pm Adelaide time) | 18 October 2012 |
| New Shares and Attaching Options quoted on a 'deferred settlement' basis | 19 October 2012 |
Level 1, 129 Greenhill Road Unley, South Australia 5061 www.petratherm.com.au
Telephone 08 8274 5000 Facsimile 08 8272 8141 Email [email protected]
| ASX advised of any Shortfall | 23 October 2012 |
|---|---|
| Proposed date for the allotment of New Shares and Attaching Options | 26 October 2012 |
| Deferred settlement trading ends | 26 October 2012 |
| Proposed date for quotation of New Shares and Attaching Options | 29 October 2012 |
The timetable is indicative only and the Company reserves the right to vary it at any time without prior notice subject to the ASX Listing Rules and the Corporations Act 2001 (Cth).
Full details of the rights issue will be contained in the Prospectus to be lodged with ASIC and ASX and to be despatched to eligible shareholders in accordance with the timetable set out above.
The Board looks forward to shareholder support of the rights issue.
Yours sincerely,
Of faith
Terry Kallis Managing Director