Share
- Release Date: 11/05/12 16:35
- Summary: GENERAL: CRP: Further Investment by Subsea
- Price Sensitive: No
- Download Document 1.56KB
CRP
11/05/2012 14:35
GENERAL
REL: 1435 HRS Chatham Rock Phosphate Limited
GENERAL: CRP: Further Investment by Subsea
11 May 2012
Chatham Rock Phosphate raises a further $1.7m in new capital
Further to the shareholders meeting on 3 April, Chatham Rock Phosphate (CRP)
is pleased to advise that it has received a further tranche of investment
from Subsea Investments II, LLC (Subsea).
This tranche of investment comprises:
o an advance to CRP from Subsea of approximately NZD$1.7 million under the
convertible loan arrangement approved by shareholders.
o an issue to Subsea of 8,557,302 unlisted options which have a three year
term and may be exercised into ordinary shares on a 1:1 basis for an exercise
price of $0.30 per share.
This takes Subsea's total investment in CRP to date to approximately
NZD$6.47m.
Full particulars of today's share allotment follows below.
Chris Castle
Managing Director
Email: [email protected]
Class of security: Unlisted Options
ISIN: N/A
Number issued: 8,557,302 unlisted options
Issue price: Nil grant price for unlisted options and an exercise price of
$0.30 per option to receive one share.
Payment in cash: Yes
Fully paid: Yes
Percentage of class: 35.95%
Purpose of the issue: Funds raised will be applied towards financing the
company's work programme on its mineral prospecting license.
Authority for the issue: Board resolutions and shareholder approval
Date of issue: 11 May 2012
Total number of securities on issue following allotments: 66,844,168 ordinary
shares
End CA:00222785 For:CRP Type:GENERAL Time:2012-05-11 14:35:11
