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

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news