ASX: CVI
NASD OTCBB: CTVWF
FSE: C4Z
ASX / MEDIA RELEASE November 7, 2008
Non-Renounceable Entitlements Issue
A.
Overview
The Company intends to make a non-renounceable entitlements issue (“Entitlements Issue”) of 1 new ordinary share for every 1 ordinary share held at the Record Date at an issue price of 1.25 cents per ordinary share (“Offer”). The maximum number of shares which may be issued under the Entitlements Issue is approximately 498,053,228 to raise up to approximately $6,225,665.
The purpose of the Entitlements Issue is to raise up to approximately $6.2 million (before transaction costs) which will be used by the Company to fund the Company’s existing operations in West Africa and improve the Company’s working capital position.
The Offer is fully underwritten by Pinnacle Capital Management Limited. However, if the terms and conditions of the Underwriting Agreement are not satisfied, or a termination event occurs, the Underwriter may terminate its obligations. In such a scenario, the directors reserve the right to place any shortfall at their discretion at no less than 1.25 cents per Share.
B.
Timetable for the Entitlements Issue
The proposed timetable for the Entitlements Issue is as follows:
Timetable
Activity
Date
Announcement of Entitlements Issue and lodge Appendix 3B
7 November 2008
Despatch of notices to Shareholders informing them of Entitlements Issue
10 November 2008
Level 9, 28 The Esplanade, Perth, Western Australia, 6000
PO Box 5643 St George’s Terrace, Perth, Western Australia, 6831
Telephone: (61-8) 9226 4788 Facsimile: (61-8) 9226 4799
Email: [email protected] Web: www.cityviewcorp.com
ABN: 59 009 235 634 ACN: 009 235 634
ASX / MEDIA RELEASE CityView Corporation
Shares trade on an “ex” Entitlement basis
12 November 2008
Record Date for Entitlement to participate in the Entitlements Issue
18 November 2008
Lodgement of section 708AA cleansing notice with ASX
21 November 2008
Offer Document and Entitlement and Acceptance Form despatched to Shareholders
21 November 2008
Closing Date for Receipt of Entitlement and Acceptance Form
5pm on 5 December 2008
ASX notified of under-subscriptions
9 December 2008
New Shares are allotted
12 December 2008
Holding Statements are despatched to Shareholders
15 December 2008
Normal ASX trading for New Shares commences
16 December 2008
Subject to the ASX Listing Rules the Closing Date may be extended. This would impact on subsequent dates in the above timetable.
C.
Eligibility to Participate in the Entitlements Issue
Shareholders at the Record Date with a registered address in Australia or New Zealand will be eligible to participate in the Entitlements Issue.
D.
Other terms of the Entitlements Issue and Offer Document
Further terms of the Entitlements Issue will be lodged with ASX in the form of an Offer Document, together with a Notice under section 708AA of the Act on or about 21 November 2008 and thereafter sent to Shareholders in accordance with the timetable above.
For further information, contact the Company on (08) 9226 4788 at any time from 8.30am to 4.00 pm (Australian Western Daylight Saving Time) Monday to Friday during the Offer Period (ending at 5pm on 5 December 2008).
Yours sincerely,
CityView Corporation Limited
Paul Williams Company Secretary
7 November 2008
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