Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Chatham announces details of shareholder rights issue

Monday, 1 September 2014

Rights Issue

As previously advised to the market, the Board of Chatham Rock Phosphate (CRP) has decided to offer a rights issue to shareholders of CRP so as to extend the current capital raising pricing from qualified investors to all shareholders. The offer price will therefore be $0.12 per share.

Shareholders on the register as at the record date will receive renounceable rights to two new shares for every seventeen shares held. The rights are intended to be quoted on the NZAX Market. CRP intends to raise under the rights issue up to approximately $2.5 million in aggregate.

Applicants under the rights issued will also receive one listed CRPOB option for every new share that is allotted to them. Applicants may also apply for additional shares under an oversubscription facility. The facility will be subject to shortfall availability.

The timetable for the Offer is as follows:

Rights trading commences NZAX MarketMonday 8 September 2014
Record Date for determining EntitlementsWednesday 10 September 2014
Opening DateThursday 11 September 2014
Expected dispatch of document enclosing the Entitlement and Acceptance FormsThursday 11 September 2014
Rights trading ends NZAX MarketMonday 22 September 2014
Closing Date (last day for receipt of the completed Entitlement and Acceptance Form with payment)Monday 29 September 2014
Allotment and issue of New Shares & New Options and dispatch of holding certificates (Issue Date)Friday 3 October 2014

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news