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- Release Date: 13/02/13 11:47
- Summary: GENERAL: CRP: Strong support for Share Purchase Plan
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CRP
13/02/2013 09:47
GENERAL
REL: 0947 HRS Chatham Rock Phosphate Limited
GENERAL: CRP: Strong support for Share Purchase Plan
13 February 2013
CRP $1 million share purchase plan support reflects three years of strong
progress
The $1 million support for Chatham Rock Phosphate's share purchase plan
reflects three years of strong progress, Chief Executive Chris Castle said.
The company announced today it is on track to raise $1 million in new capital
from its shareholder share purchase plan. The plan closes today at 5pm and
allotment of shares is intended to take place early next week.
Mr Castle said the board of CRP is thrilled by progress with the latest
capital raising and the enthusiastic response from shareholders. He noted it
has been assisted by growth in the share register with the total number of
shareholders rising from 300 in September to 430.
The latest milestones have been achieved on the third anniversary of the
company being granted its prospecting licence, in February 2010.
In the ensuing period the company has:
- increased its market value from $2.5 million to $48 million
- raised $21 million from investors
- applied for a mining licence in September 2012
- established a core management team of nine people plus numerous experts
- built a strong working relationship with a 50-strong team at Boskalis
- attracted three cornerstone investors (Boskalis, Subsea Investments and
Odyssey Marine)
- strengthened its board with three new directors.
CRP is planning to file its marine consent application in the second quarter
of this year. Planning also continues to list on an overseas exchange and
extend contract arrangements with Boskalis in the next few months.
Chris Castle
Managing Director
Email: [email protected] or 021 55 81 85
End CA:00232866 For:CRP Type:GENERAL Time:2013-02-13 09:47:15
