1 July 2016
Chatham Rock Phosphate Limited (NZX: CRP) is pleased to advise that its share purchase plan (SPP) has been oversubscribed.
CRP received applications for $616,137.71 under the SPP (in aggregate) against a total offer of $600,000.
Given the size of the excess and the administrative costs associated with undertaking scaling, CRP has decided to allot shares for the excess as a placement under Rule 7.3.5.
As a result of the above, the offer has no shortfall and the underwriters are released from their underwriting obligations for the SPP.
In addition, CRP has issued 8,748,333 further shares to qualified investors (New Shares). The New Shares were issued at an issue price of $0.006 per share, being approximately $52,500 in aggregate. This completes all issuances that were permitted to be made under the pre break announcement dated 19 April 2016.
Full particulars of the share issues are set out below.
The Board is thrilled with the outcome of CRP’s capital raising efforts and thanks shareholders for their support of the company.
For and on behalf of the Board,