ENP Newswire -
Release date- 04072014 - Ord River Resources Ltd ACN 108 737 711 is pleased to announce a new renounceable pro-rata entitlement issue.
Ord invites its shareholders who are registered with Ord's share registry as at
1.21 fully paid ordinary shares in Ord (New Shares) for every 1 ordinary share held in Ord, at an issue price of
1 attaching unlisted option to acquire a fully-paid ordinary share in Ord - each exercisable at
Eligible Shareholders will also have the opportunity to apply for additional New Shares in excess of their full entitlement and to receive Attaching Options in respect of such additional New Shares.
Ord will apply to ASX for official quotation of all New Shares issued under the Rights Issue. The Attaching Options will not be quoted on an exchange.
The Rights Issue will result in the issue of up to 1,506,253,9151
New Shares and 1,506,253,915 Attaching Options and will raise approximately
The Rights Issue is, subject to certain terms and conditions, fully underwritten by
The Issue Price represents a 38.5% discount to the volume weighted average price of Ord ordinary shares on the ASX over the 30 ASX trading days prior to the date of this announcement and a 33.3% discount to Ord's closing price on the ASX on
As the Rights Issue is renounceable, Eligible Shareholders who do not wish to subscribe for some or all of their full entitlement to New Shares and Attaching Options (Rights) may sell those Rights from
If you are an Eligible Shareholder who chooses to do nothing with or fails to exercise your Rights by
The offer to participate in the Rights Issue is not being made to Ord shareholders who have a registered address with Ord's share registry outside
However, the entitlements that Excluded Shareholders would otherwise have been entitled to exercise under the Offer, had they not been Excluded Shareholders, will be offered for sale by
If for any reason the
The Rights Issue is being made pursuant to a Prospectus under section 713 of the Corporations Act 2001 (Cth) (the Act), which was lodged with the
The Prospectus is a transaction specific prospectus and therefore, broadly speaking, contains only information in relation to the effect of the issue of securities on Ord and the rights attaching to the securities the subject of the Rights Issue.
This Prospectus is intended to be read in conjunction with publicly available information in relation to Ord which has been notified to ASX and does not include all of the information that would be included in a prospectus in connection with an initial public offering.
Shareholders should therefore have regard to other publicly available information in relation to Ord before making a decision as to whether or not to exercise their Rights under the Rights Issue. Shareholders may view all of
Actions Required by Eligible Shareholders
If you are an Eligible Shareholder who wishes to subscribe for some or all of your Rights (and, if applicable, additional New Shares and Attaching Options) you will need to complete the personalised Entitlement and Acceptance Form that will accompany the Prospectus and return it, with the appropriate application moneys, to Ord's share registry before
If you are an Eligible Shareholder who does not intend to subscribe for some or all of your Rights you may seek to sell those Rights on the ASX from
If you wish to transfer some or all of your Rights to a person, other than by trading on the ASX, you must complete a standard renunciation form (available from your sharebroker) and lodge it with your sharebroker together with the applicable transferee's cheque for the total subscription price of the New Shares and Attaching Options subscribed for.
If you are an Eligible Shareholder who chooses to do nothing with or fails to exercise your Rights, you will continue to hold the same number of ordinary shares in Ord. However your interest in Ord is likely to be significantly diluted and you will receive no value for your Rights.
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