ENP Newswire -
Release date- 10072014 -
Frontier is focused on a highly prospective portfolio of intrusive and epithermal related gold, plus porphyry copper- gold -molybdenum hosting Exploration Licences in
The Board of Directors has approved a Shareholder Share Purchase Plan (Plan) consisting of 50 million shares to be issued at 1.3c each, plus associated shortfall placements, to raise
Capital raised from the Share Purchase Plan / Shortfall Placements will be used to fund exploration and drilling that is planned to commence in
Drill holes on the
Continue infill and strike extension trenching to define additional high grade gold drill targets. Drill a scout hole on a highly prospective gold target located 3km ESE of Swit Kia, in the Bulago basin.
Increase working capital.
Undertake limited evaluation of other ELs in PNG.
The Chairman/M.D. owns approx. 5.1% of Frontier, believes strongly in its future and will subscribe for
1. SHAREHOLDERS ELIGIBLE TO PARTICIPATE IN THE PLAN
The right to participate in the Offer under the Plan is optional, but available exclusively to shareholders who are registered as holders of fully paid ordinary shares in the capital of Frontier (Shares) at
2. SHARE PURCHASE PLAN
The Board is pleased to offer an opportunity to all Eligible Shareholders to participate in the Plan. Details of the Offer are set out in this letter and the enclosed Terms and Conditions together with an Entitlement and Acceptance Form. The Plan entitles Eligible Shareholders in the Company, irrespective of the size of their shareholding, to purchase up to
This price is equal to a 19% discount to the volume weighted average trading price of the Company's Shares on ASX during the 15 trading days immediately prior to the date of this offer. The average trading price of the Shares on the
3. CURRENT PROJECTS
Details of Frontier's current activities are set out in the announcements made by the Company to the ASX and are available from the ASX or the company's website at www.frontierresources.com.au.
4. SUBSCRIPTION AND APPLICATION PROCEDURE
If you would like to participate in the Offer, please return your completed Entitlement and Acceptance Form (enclosed), together with your cheque or BPAY for the subscription monies for the Shares you wish to acquire to
Please note the maximum investment per shareholder is
The number of Shares you receive will be calculated by dividing the subscription price/ amount you have elected to purchase by the noted price per Share. The maximum investment any one 'shareholder' may apply for will remain
It is possible to have shares in several entities (personal names, superfund, trust, company etc) and these can each exercise their own subscription of shares to the maximum
5. ADDITIONAL INFORMATION AND IMPORTANT DATES
The Offer cannot be transferred and the Directors of the Company reserve the right to reject any application which does not comply with the conditions. Shares allotted under the Plan will be issued as soon as practicable after the Closing Date of the Offer. Application for quotation on ASX of the new Shares will be made immediately following the issue of those Shares.
The maximum number of Shares that may be issued pursuant to this Offer is 50,000,000, raising up to
6. ACCEPTANCE OF RISK FACTORS
On the trading day immediately prior to the announcement date of the Offer, the closing price of the Shares traded on ASX was
By accepting the Offer and applying for Shares under the Plan, each Eligible Shareholder will be acknowledging that although the purchase price is at a discount to the market price, Shares are a speculative investment.
The price of Shares on ASX may change between the date of the Company announcing its intention to make an Offer and the date of issue of Shares under that Offer so that the price and/or value and/or number of the Shares received under the Plan may rise or fall accordingly. The Board recommends that you obtain your own financial advice in relation to the Offer and consider price movements of Shares in the Company prior to accepting this Offer.
7. SHORTFALL PLACEMENT
If less than 50 million Shares are applied for in this Offer, the shortfall may be placed at the discretion of Directors.
Tel: +61 8 6141 3500
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