Allotment of Shares
Chatham Rock Phosphate Limited (NZX: CRP) advises that it has today undertaken placements at $0.262 per share and at $0.33 per share.
1,108,030 ordinary shares were issued at an issue price of $0.33 per share to qualified investors. The issue price of $0.33 represents the volume weighted average price of a share on the NZAX market earlier this week when the pricing for these placements was agreed.
This has resulted in CRP raising approximately $365,000 in new capital that will be principally devoted to activities related to the Marine Consent environmental application to be made in 2013.
In addition two contractors of the Company (Widespread Portfolios Ltd and Robin Falconer Associates Ltd) have received 128,817 shares under their respective Contracts for Service at NZD$0.262 per share. These shares represent partial payment for services during the July to September quarter. Pursuant to those contracts for service the issue price of NZ$0.262 per share reflects the 20 day volume weighted average price of a share on the NZAX market to 1 October 2012.
Email:email@example.com Class of security: Ordinary shares
Number issued: 1,236,847 ordinary shares
Issue price: $0.262 per ordinary share for 128,817 ordinary shares $0.33 per ordinary share for 1108,030 ordinary shares
Payment in cash: Yes
Fully paid: Yes
Percentage of class: 0.958%
Purpose of the issue: For working capital purposes and partial consideration of Contracts for Service.
Authority for the issue: Board resolutions
Date of issue: 12 October 2012
Total number of securities on issue following allotments: 129,151,466 ordinary shares