In conjunction with the Placement, the Board is pleased to announce that it has resolved to undertake a renounceable pro-rata offer to shareholders (including those participating in the Placement) of 1 new share for every 3 shares held at the record date at an issue price of 7.6 cents per new share together with 1 attaching option (exercisable @ 10¢ and expiring on 31 March 2017) for every 3 new shares issued to raise up to $12.2m (before costs) (“Rights Issue”).
Patersons Securities Limited is mandated as Lead Manager to the Placement and the Rights Issue.
PLV Price at posting:
9.0¢ Sentiment: Sell Disclosure: Not Held