Ann: Woodlawn Zinc Copper Project Acquisition Presentation, page-13

For those unsure how today's announcement will effect their holding and entitlement to acquire shares, this is the relevant section in the announcement pertinent to the entitlement offer.

As I see it, in a nutshell -

Existing retail holders as of the record date (next Monday - so you cannot acquire shares prior to that due to the trading halt) can purchase 1 new share for every 18.6 existing shares they own at a price of $3.30 per share. Oversubscription will not be allowed.

The detail...

The Entitlement Offer provides eligible shareholders with the opportunity to subscribe for 1 New Share for every 18.6 existing shares held as at 7.00pm Sydney Time on Monday, 21 February 2022 (“Record Date”.

Eligible institutional shareholders will be invited to participate in the accelerated institutional component of the Entitlement Offer (“Institutional Entitlement Offer”, which opens today, Thursday 17 February 2022. Eligible institutional shareholders can choose to take up all, part or none of their entitlements under the Institutional Entitlement Offer. Entitlements not taken up by eligible institutional shareholders, and entitlements that would otherwise have been offered to ineligible shareholders, will be offered to new and existing institutional shareholders concurrently with the Institutional Entitlement Offer.

Concurrently with the Institutional Entitlement Offer, Develop will undertake the Placement to both existing and new institutional investors.

The retail component of the Entitlement Offer (“Retail Entitlement Offer” will be conducted at the same offer price and offer ratio as the Institutional Entitlement Offer. The Retail Entitlement Offer will be open from Thursday 24 February 2021 to eligible retail shareholders in Australia and New Zealand, as at 7:00pm (Sydney time) on the Record Date and is expected to close at 5.00pm (Sydney time) on Monday 7 March 2022.

Develop Managing Director Bill Beament and major shareholder Mineral Resources Limited have indicated their intention to take up their full entitlements in the Entitlement Offer.

The Entitlement Offer is non-renounceable and entitlements will not be tradeable or otherwise transferable. Eligible shareholders who do not take up their entitlement under the Entitlement Offer in full or in part, will not receive any value with respect to those entitlements not taken up.
Each New Share issued under the Equity Raising will rank equally with existing fully paid ordinary shares in Develop then on issue.

The Equity Raising is fully underwritten by Canaccord Genuity (Australia) Limited. A summary of the key terms of the underwriting agreement is set out in the Investor Presentation released to ASX today.