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PTR MINERALS LTD Capital/Financing Update 2015
65621_rns_2015-12-16_63477014-417f-4107-9db9-7f7f0254b137.pdf
Capital/Financing Update
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PETRATHERM LTD
Level 1, 169 Fullarton Road, Dulwich, South Australia 5065 Tel: +61 8 8133 5000 Website www.petratherm.com.au Email [email protected] A.C.N. 106 806 884
17 December 2015
NON-RENOUNCEABLE RIGHTS ISSUE & SHARE PLACEMENT
Petratherm Limited (Company) is pleased to announce a capital raising by way of a share placement and a non-renounceable pro rata rights issue. The share placement will consist of the issue of 50,000,000 fully paid ordinary shares at $0.003 per share to raise $150,000 before costs. The share placement will be made to professional and sophisticated investors pursuant to section 708 of the Corporations Act 2001 (Cth), and is to be undertaken within the Company's 15% limit in accordance with ASX Listing Rule 7.1.
The rights issue will be at an issue price of $0.003 per new share on the basis of two new shares for every five ordinary shares held. Under this offer, a maximum of 207,877,031 shares will be issued to raise approximately $623,631. Funds raised from the rights issue will be used to pay the costs of the issue, fund new projects or acquisitions and for working capital purposes.
The issue price of the new shares under the rights issue represents a discount of 43.40% to the volume weighted average price of the Company's shares during the 14 trading day period up to and including 16 December 2015.
Each eligible shareholder registered on the Company's register of members at 7.00 pm (Adelaide time) on 23 December 2015 (Record Date) will be entitled to subscribe for two new fully paid ordinary shares in the Company for every five ordinary shares held as at the Record Date at a price of $0.003 per new share. Please note that the Company's shares will be quoted on an 'ex' basis from 21 December 2015 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 will also have the opportunity to apply for additional new shares that are not subscribed for under the rights issue.
The rights issue is fully underwritten by Taylor Collison Limited.
Event Date Announcement of Entitlement Offer and Appendix 3B lodged with ASX 17 December 2015 Offer Booklet lodged with ASX 18 December 2015 Shareholder notice despatched 18 December 2015 Shares trade on an "ex" Entitlement basis 21 December 2015 Record Date for eligibility to participate in the Entitlement Offer 23 December 2015 at 7:00 pm Adelaide time
The indicative timetable for the rights issue is as follows:
| Offer Booklet and Entitlement and Acceptance Form despatched toShareholders | 30 December 2015 |
|---|---|
| Opening Date for the Entitlement Offer | 30 December 2015 |
| Last day to extend the Closing Date for the Entitlement Offer | 6 January 2016 |
| Closing Date for the Entitlement Offer | 11 January 2016 at 5:00pm Adelaide time |
| Securities quoted on a deferred settlement basis | 12 January 2016 |
| Notify ASX of under subscriptions | 14 January 2016 |
| Allotment of New Shares issued under the Entitlement Offer and deferredsettlement trading ends | 18January 2016 |
| Normal ASX trading for New Shares commences | 19January 2016 |
| Despatch of holding statements for New Shares issued under the EntitlementOffer | 21January 2016 |
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 Offer Booklet to be dispatched to eligible shareholders in accordance with the timetable set out above.
The Board looks forward to shareholder support of the rights issue.
Yours faithfully
Simon O'Loughlin Chairman