SHARE PURCHASE PLAN CLOSES OVERSUBSCRIBED
Innamincka Petroleum Limited (“INP”) is pleased to advise that its Share Purchase
Plan (“SPP”), which closed last Friday, has received strong support from
shareholders with applications received to the total value of $11.8m.
In accordance with the terms of the SPP the pricing of shares to be issued under the
SPP is 20 cents each (being the lower of 20 cents and a discount of 15% to the
average closing price of shares on ASX on the five days immediately prior to today
being the allotment date).
INP had originally anticipated a maximum capital raising of $10m from the SPP.
However, the Directors wish to reward shareholders for their support and minimise
the required scale back on applications. As a result, and in accordance with the SPP
Document lodged on 13 July 2009, INP will allot shares up to the maximum of 30% of
its issued capital as provided in the Listing Rules. This will result in the issue of
56,895,850 shares under the SPP at 20 cents each raising a total of $11,379,170.
A scale back policy has been decided as follows:
• Shareholders applying for shares up to the value of $7,500 will receive their
full allocation being 5,000 shares for each $1,000 application funds remitted.
• Shareholders applying for shares above this level will be allocated a
proportionally reduced number. Shareholders who applied for $10,000 worth
of shares will be allocated $9,742.40 worth of shares being 48,712 shares and
shareholders who applied for $15,000 worth of shares will be allocated
$14,226.80 worth of shares being 71,134 shares.
Allotment of shares will proceed today and quotation of shares will commence on
Monday 17 August 2009 in accordance with the timetable.
Despatch of holding statements and refund cheques, where applicable, will occur on
Monday 17 August 2009.
- Forums
- ASX - By Stock
- ACN
- spp oversubscribed
spp oversubscribed
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ACN (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online