Ann: Share Placement, page-38

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From March 15

Inca is also pleased to announce it has entered into a Controlled Placement Agreement (CPA) with Acuity
Capital Investment Management Pty Ltd (Acuity Capital) to increase the available funding options and
strengthen the Company’s capital management capacity. While Inca retains sole discretion as to whether
the CPA is utilised, the Board believes it prudent to ensure the Company is well positioned and can, if it
chooses, implement flexible and efficient capital raising options.
The key features of the CPA include:
 It provides Inca with a discretionary option of raising up to $3 million over a 12 month period without
restriction or conditions on strategic partnerships, joint ventures, acquisitions of any assets or on the
timing, nature or amount of any other equity or debt funding mechanisms.
 No obligation on Inca to utilise the CPA facility and no penalty or fees if Inca elects not to utilise or
cancel the CPA facility.
 Inca retains full control over any CPA placement process including its ability to determine:
o The placement period being the date(s) over which the volume weighted average price (VWAP)
and placement price are calculated;
o Maximum placement amount to be issued for any placement period thereby minimising dilution
of existing shareholders; and
o The minimum issue price for the placement period.
 Any CPA placement is issued at a 10% discount to VWAP over the placement period subject to the
minimum issue price determined by Inca (Floor Price). The actual issue price per share may exceed
the Floor Price and this will occur where the discounted VWAP of Inca’s shares is above the Floor Price.
 Utilisation of the CPA facility is dependent upon Inca’s available placement capacity under ASX Listing
Rules.
Mr Brown says “The CPA provides Inca with a flexible option in raising capital during a period of prolonged
drilling activity which is targeting the most prospective areas of Chanape”.
(Or wherever)

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