vcr - rights issue, page-4

re: vcr - rights issue -announcement Ventracor Rights Issue Timetable
Sydney, 17 September 2003: The Directors of Ventracor have to-day lodged
with the Australian Securities and Exchange Commission a Prospectus for a 1
for 12 renouncable rights issue to raise approximately $33.3million.
The Rights Issue provides an opportunity for the existing Shareholders to
participate in a share issue at the same price of $2.25 as offered under the
recent placement of 15 million shares to institutional and sophisticated
investor clients of ABN AMRO Morgans Limited.
A handling fee of 1.5% will be paid to participating organisations of ASX for
applications made by clients and lodged by the participating organisation and
which bear their stamp. The handling fee will be capped at $250 per
application.
The Company has incorporated a top up facility whereby Shareholders may
apply for additional shares, in excess of their entitlement, at the same price.
Additionally, the Company may seek to place any subsequent shortfall in the
Rights Issue with institutional and sophisticated investor clients of ABN AMRO
Morgans Limited, who is broker to the issue.
The funds raised will assist the Company in undertaking the regulatory and
commercialisation processes in respect of the VentrAssist™ technology in a
timely manner. The funds will provide the Company with the ability to
accelerate these processes depending on the ongoing performance achieved
in the current Pilot Trial and the subsequent Global Pivotal Trial with the
objective of being able to capitalise on the Company's VentrAssist™
technology in global markets as soon as possible.
The funds will also be applied to the investigation and potential development
of alternative uses of the Company's technology.

Formal documentation including the Prospectus and Entitlement and
Acceptance Form will be dispatched by 1st October 2003 and the closing date
for acceptance is 23rd October 2003 in accordance with the following
timetable: -
Date of Prospectus : 17 September 2003
Ordinary Shares trade "ex-rights" and Rights
trading commences on ASX
: 22 September 2003
Record Date to determine Entitlements under
the Rights Issue
: 26 September 2003
Prospectus and Entitlement and Acceptance
Form dispatched
: 1 October 2003
Last day of Rights trading : 16 October 2003
Closing Date for acceptance : 23 October 2003
Allotment and issue of New Ordinary Shares : 28 October 2003
Dispatch of shareholding statements for New
Ordinary Shares
: 30 October 2003
Trading of New Ordinary Shares commences : 31 October 2003
Prospectus Expiry Date : 24 January 2004
For further information, please contact:
John Massey Michael Spooner
Chairman Managing Director & CEO
Ventracor Limited Ventracor Limited
07 3868 4958 02 9406 3088






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