ASX: CVI NASD OTCBB: CTVWF FSE: C4Z ASX / MEDIA RELEASE November 7, 2008
Non-Renounceable Entitlements Issue A.
Overview The Company intends to make a non-renounceable entitlements issue (“Entitlements Issue”) of 1 new ordinary share for every 1 ordinary share held at the Record Date at an issue price of 1.25 cents per ordinary share (“Offer”). The maximum number of shares which may be issued under the Entitlements Issue is approximately 498,053,228 to raise up to approximately $6,225,665. The purpose of the Entitlements Issue is to raise up to approximately $6.2 million (before transaction costs) which will be used by the Company to fund the Company’s existing operations in West Africa and improve the Company’s working capital position. The Offer is fully underwritten by Pinnacle Capital Management Limited. However, if the terms and conditions of the Underwriting Agreement are not satisfied, or a termination event occurs, the Underwriter may terminate its obligations. In such a scenario, the directors reserve the right to place any shortfall at their discretion at no less than 1.25 cents per Share. B. Timetable for the Entitlements Issue The proposed timetable for the Entitlements Issue is as follows: Timetable Activity Date Announcement of Entitlements Issue and lodge Appendix 3B 7 November 2008 Despatch of notices to Shareholders informing them of Entitlements Issue 10 November 2008 Level 9, 28 The Esplanade, Perth, Western Australia, 6000 PO Box 5643 St George’s Terrace, Perth, Western Australia, 6831 Telephone: (61-8) 9226 4788 Facsimile: (61-8) 9226 4799 Email: [email protected] Web: www.cityviewcorp.com ABN: 59 009 235 634 ACN: 009 235 634 ASX / MEDIA RELEASE CityView Corporation Shares trade on an “ex” Entitlement basis 12 November 2008 Record Date for Entitlement to participate in the Entitlements Issue 18 November 2008 Lodgement of section 708AA cleansing notice with ASX 21 November 2008 Offer Document and Entitlement and Acceptance Form despatched to Shareholders 21 November 2008 Closing Date for Receipt of Entitlement and Acceptance Form 5pm on 5 December 2008 ASX notified of under-subscriptions 9 December 2008 New Shares are allotted 12 December 2008 Holding Statements are despatched to Shareholders 15 December 2008 Normal ASX trading for New Shares commences 16 December 2008 Subject to the ASX Listing Rules the Closing Date may be extended. This would impact on subsequent dates in the above timetable. C. Eligibility to Participate in the Entitlements Issue Shareholders at the Record Date with a registered address in Australia or New Zealand will be eligible to participate in the Entitlements Issue. D. Other terms of the Entitlements Issue and Offer Document Further terms of the Entitlements Issue will be lodged with ASX in the form of an Offer Document, together with a Notice under section 708AA of the Act on or about 21 November 2008 and thereafter sent to Shareholders in accordance with the timetable above. For further information, contact the Company on (08) 9226 4788 at any time from 8.30am to 4.00 pm (Australian Western Daylight Saving Time) Monday to Friday during the Offer Period (ending at 5pm on 5 December 2008). Yours sincerely, CityView Corporation Limited Paul Williams Company Secretary 7 November 2008 Page 2 of 2
CVI Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
