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28/03/2014 11:54
GENERAL
REL: 1154 HRS Chatham Rock Phosphate Limited
GENERAL: CRPOB: Option Re-pricing
28 March 2014
The fully underwritten renounceable rights issue for Chatham Rock Phosphate
(CRP) has opened today. The prospectus is being posted to shareholders and
the offer price is $0.15.
CRP has three classes of options on issue (Options). Under the terms of issue
of the Options where a rights issue is made by CRP, the exercise price of the
Options is to be adjusted by applying a formula as set out in NZAX Listing
Rule 8.1.5(b).
Accordingly, the exercise price for the Options is now reduced by $0.012 per
Option to be as follows:
$0.50 options now repriced as $0.488 options;
$0.30 options now repriced as $0.288 options; and
$0.70 options (quoted under CRPOB) are now repriced as $0.688 options.
On behalf of the Board,
Chris Castle
Chief Executive Officer
Email: [email protected]
About CRP
CRP holds a strategic, multi-million tonne organic rock phosphate deposit
uniquely positioned to access Asian and Australasian fertiliser markets. It
was granted a 20-year mining licence in 2013 and has recently applied for new
prospecting licences both east and west of its existing licence areas that
could significantly increase the scope of resources. CRP is currently
finalising its Environmental Impact Assessment for its Marine Consent
application.
End CA:00248848 For:CRP Type:GENERAL Time:2014-03-28 11:54:01
