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

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news