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Underwritten Share Purchase Plan
23 May 2016
Underwritten Share Purchase
Plan
As previously announced, Chatham Rock Phosphate Limited (NZX: CRP) intends to undertake a share purchase plan (SPP) offer of ordinary shares (Shares).
CRP is limiting the SPP to raise no more than NZ$600,000. Each shareholder of CRP may, subject to availability, apply for up to NZ$15,000 of Shares, at NZ$0.006 per Share.
The SPP timetable is
outlined below:
| Event | Date |
| Record Date | Friday 3 June 2016 |
| SPP opens and Offer Booklet sent to Eligible Shareholders | Tuesday 7 June 2016 |
| Closing Date for SPP | Friday 24 June 2016 |
| Allotment of Shares | On or before Friday 1 July 2016 |
| Holding statements sent to Shareholders | By Friday 8 July 2016 |
Underwriting
We are pleased to advise that the SPP will be fully underwritten by four of CRP’s existing shareholders, including managing director Chris Castle. Underwriting agreements have been entered into to this effect and CRP is now well positioned having secured NZ$500,000 more than its 12 month working capital requirement.
The intention is that the SPP will not be extended and will run to the timetable noted above. CRP intends, immediately following the SPP to proceed with the Antipodes Gold reverse takeover.
An Appendix 4 release accompanies this announcement.
For and on behalf of the Board,
Chris
Castle
CEO
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