Oxiana is pleased to advise the Board has decided to proceed with a proposal to offer all Oxiana June 30th 2000 optionholders a new option.
The offer is to be made to all holders of Oxiana options expiring on 30 June 2000 (ASX code OXRO) on a one for one basis. Each new option would be convertible into one Oxiana ordinary share at 25 cents per share on or before 30 September 2002. The offer will be priced at 1.5 cents per option and will be fully underwritten by Melbourne based broker Peake Lands Kirwan Pty Ltd. The options are proposed to be listed, subject to ASX Listing Rules on terms consistent with the options included in the recent placement announced on the 30 May 2000.
OXR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
