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- Release Date: 20/04/12 12:22
- Summary: PLACE: CRP: Chatham Rock Phosphate raises a further $2.47m
- Price Sensitive: No
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CRP
20/04/2012 10:22
PLACE
REL: 1022 HRS Chatham Rock Phosphate Limited
PLACE: CRP: Chatham Rock Phosphate raises a further $2.47m
20 April 2012
Chatham Rock Phosphate raises a further $2.47m 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) in accordance with the arrangements
approved by shareholders.
This tranche of investment comprises:
o an issue to Subsea of 1,853,429 shares at an issue price of $0.20 per
share, representing approximately NZD$370,000 in new capital for CRP.
o an advance to CRP from Subsea of approximately NZD$2.1 million under the
convertible loan arrangement approved by shareholders.
o an issue to Subsea of 12,362,500 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$4.75m with the potential for further tranches of investment within the
parameters approved by shareholders.
Full particulars of today's share allotment follows below.
Chris Castle
Managing Director
Email: [email protected]
Class of security: Ordinary Shares and Unlisted Options
ISIN: NZWENE0003S0
Number issued: 1,853,429 ordinary shares
12,362,500 unlisted options
Issue price: $0.20 per ordinary share
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: 2.86%
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: 20 April 2012
Total number of securities on issue following allotments: 66,563,608 ordinary
shares
End CA:00222050 For:CRP Type:PLACE Time:2012-04-20 10:22:30
