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- Release Date: 18/06/12 13:54
- Summary: ALLOT: CRP: Allotment of shares to Odyssey Marine Exploration, Inc.
- Price Sensitive: No
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CRP
18/06/2012 11:54
ALLOT
REL: 1154 HRS Chatham Rock Phosphate Limited
ALLOT: CRP: Allotment of shares to Odyssey Marine Exploration, Inc.
18 June 2012
Allotment of Shares to Odyssey Marine Exploration, Inc.
Further to the announcement of 17 May, Chatham Rock Phosphate Limited (NZX:
CRP) advises that it has today issued 9,320,348 ordinary shares at an issue
price $0.23 per share to Odyssey Marine Exploration, Inc. (Odyssey) in
satisfaction of payment for services under a charter agreement.
Cruise costs incurred under the charter agreement total approximately
USD$5.68 million. US$4 million of the total costs have been paid by CRP in
cash.
In accordance with the terms and conditions of the charter agreement, CRP has
elected to pay the remaining fees by issuing Odyssey shares in CRP.
This is a positive development for CRP as it allows us to maintain working
capital in order to fulfil our work programme. We welcome Odyssey as a
Substantial Shareholder in CRP.
Chris Castle
Managing Director
Email: [email protected]
Class of security:
Ordinary shares
ISIN: NZWENE0003S0
Number issued: 9,320,348 ordinary shares
Issue price: $0.23 per ordinary share
Payment in cash: No
Fully paid: Yes
Percentage of class: 12.237%
Purpose of the issue: Payment of fees invoiced to CRP under charter
agreement with Odyssey Marine Exploration, Inc
Authority for the issue: Board resolutions
Date of issue: 18 June 2012
Total number of securities on issue following allotments: 76,164,516
ordinary shares
End CA:00223975 For:CRP Type:ALLOT Time:2012-06-18 11:54:42
