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- Release Date: 20/06/12 15:00
- Summary: ALLOT: CRP: Allotment of Shares to Subsea Investments
- Price Sensitive: No
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CRP
20/06/2012 13:00
ALLOT
REL: 1300 HRS Chatham Rock Phosphate Limited
ALLOT: CRP: Allotment of Shares to Subsea Investments
Chatham Rock Phosphate Limited (NZX: CRP) advises that it has today issued
2,411,219 ordinary shares to Subsea Investments II, LLC (Subsea) at an issue
price of $0.20 per share.
This allotment arises from a partial conversion of the convertible loan
advanced by Subsea as approved by shareholders in April this year. This
partial conversion reduces the amount owed by CRP under the loan by
approximately $500,000 to approximately $3.35 million. Subsea's percentage
shareholding in CRP increases to 19.99% as a result of this allotment.
As previously advised to shareholders, it is intended to seek shareholder
approval under the Takeovers Code to permit full conversion of the loan and
for Subsea to increase its shareholding percentage above 20%. Under the
convertible loan agreement CRP has until mid-October 2012 to seek this
approval from shareholders.
Chris Castle
Managing Director
Email: [email protected]
Class of security:
Ordinary shares
ISIN: NZWENE0003S0
Number issued: 2,411,219 ordinary shares
Issue price: $0.20 per ordinary share
Payment in cash: Yes
Fully paid: Yes
Percentage of class: 3.17%
Purpose of the issue: Partial conversion of the convertible loan advanced by
Subsea
Authority for the issue: Board resolutions
Date of issue: 20 June 2012
Total number of securities on issue following allotments: 78,575,735
ordinary shares
End CA:00224070 For:CRP Type:ALLOT Time:2012-06-20 13:00:41
