Ann: RIGHT: CRP: Fully Underwritten Rights Issue

• Release Date: 14/03/14 17:53
• Summary: RIGHT: CRP: Fully Underwritten Rights Issue
• Price Sensitive: No
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					CRP
14/03/2014 15:53
RIGHT

REL: 1553 HRS Chatham Rock Phosphate Limited

RIGHT: CRP: Fully Underwritten Rights Issue

As previously advised to the market, the Board of Chatham Rock Phosphate has
decided to offer a rights issue to shareholders of CRP. Shareholders on the
record date will receive renounceable rights to one new share for every ten
shares held. CRP will issue 14,422,529 shares to raise approximately $2.1
million under the rights issue. The rights issue will be fully underwritten
(the Offer).

As previously indicated to the market it was intended to price the Offer at
an attractive discount to market for shareholders. The price under the Offer
has been set at $0.15 per share. The rights will be quoted on the NZAX
Market.

Investors taking up rights may also apply for additional shares under an
oversubscription facility. The number of shares available in the
oversubscription facility will be capped at 2,800,000. The facility will be
subject to shortfall availability.

The Offer will be fully underwritten by a private American investment
company. The underwriter may also use a panel of sub-underwriters.  Full
particulars of the underwriting arrangements will be disclosed in the
simplified disclosure prospectus scheduled to be released on Tuesday, 25
March.

The timetable for the Offer is as follows:

Tuesday, 18 March 2014 Prospectus Registration Date and announcement
 Tuesday, 25 March 2014 Rights trading commences on NZX Alternative Market
 Thursday, 27 March Record Date for determining Entitlements (5.00pm)
 Friday, 28 March 2014 Offer opens. Prospectus and Entitlement and Acceptance
Form mailed to Eligible Shareholders
Friday, 11 April 2014 Rights trading ceases (5.00pm)
Thursday, 17 April 2014 Offer closes (last day for receipt of Entitlement and
Acceptance Forms by the Share Registrar) (5.00pm)
Tuesday, 22 April 2014 Allotment date and expected commencement of trading of
New Shares applied for by Existing Shareholders.
 Tuesday, 29 April 2014 Allotment date for Shortfall to Underwriter.

On behalf of the Board,

Chris Castle
Chief Executive Officer
Email: [email protected]

About CRP
CRP holds a strategic, multi-million tonne organic rock phosphate deposit
uniquely positioned to access Asian and Australasian fertiliser markets. It
was granted a 20-year mining licence in 2013 and has recently applied for new
prospecting licences both east and west of its existing licence areas that
could significantly increase the scope of resources. CRP is currently
finalising its Environmental Impact Assessment for its Marine Consent
application.

CRP has appointed Wimmer Financial to manage international capital raising
for the company with a view to seeking an AIM Listing in the near future.
Wimmer Financial is an international corporate advisory firm, specialising in
natural resources, with a global reach through a network of close partners
and clients all over the world.
End CA:00248237 For:CRP    Type:RIGHT      Time:2014-03-14 15:53:57