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

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: