NZX Announcement: Completion of Rights Issue and AIM Listing Update

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Dear Chatham Rock Phosphate Shareholder,

This announcement was filed with NZX last night and has just been released this morning.

Regards,

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

22 April 2014

Completion of Rights Issue and AIM Listing Update

Chatham Rock Phosphate Limited (NZX: CRP) is pleased to advise that it has today allotted new shares under its rights issue to existing shareholders.

The rights issue has been extremely well supported with $1,795,315.95 subscribed out of a maximum of approximately $2.1 million under the offer. Net of oversubscriptions of $182,500, a total of $1,612, 800 was subscribed.  

There was strong interest in the oversubscription facility where applicants could apply for additional shares in excess of the rights they held. A total of 4,016,934 shares were applied for in the oversubscription facility and with this facility limited to 2.8 million shares CRP has had to scale all oversubscription facility applications in accordance with the prospectus. Affected applicants will be refunded excess application monies shortly.

As previously advised the rights issue was fully underwritten and the shortfall of 3,670,690 shares will be placed with the underwriter in approximately one weeks’ time. Full details of today’s allotment to applicants are set out below.

The Board of CRP thanks shareholders for their outstanding support of this offer.

AIM Listing Update

As previously advised to the market CRP intends to undertake a capital raising and secondary listing on London’s AIM market. Considerable work has been progressing in this respect. CRP is pleased to advise that it has secured its advisory team in this respect and has engaged:

·         Nominated Advisor and Broker: Daniel Stewart & Company plc.

·         Lead Financial Advisor and Broker: Wimmer Financial LLP.

·         UK Legal Adviser: Fasken Martineau.

·         Investigating Accountant: BDO.

It is intended to raise approximately NZ$8 million through this capital raising. Pricing for the capital raising has not yet been determined. The proceeds will be applied principally to the costs associated with CRP’s marine consent application and meeting CRP’s overheads ideally until all approvals and contracts are in place for our rock phosphate project on the Chatham Rise.

At present CRP is working through due diligence requirements associated with the capital raising and AIM listing. It is intended that the offering will commence in June. 

Chris Castle

Chief Executive

Email: chris@crpl.co.nz

 

Class of security:  Ordinary shares

ISIN:  NZWENE0003S0

Number issued:  10,751,839 ordinary shares

Issue price:  $0.15 per ordinary share

Payment in cash:  Yes

Fully paid:  Yes

Percentage of class:  6.93%

Purpose of the issue:  As set out in rights issue prospectus

Authority for the issue:  Board resolutions and NZAX Listing Rule 7.3.4

Date of issue:  22 April 2014

Total number of securities on issue following allotments:  155,157,137  ordinary shares

Media Release: Chatham Rock Phosphate files draft Marine Consent application

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Media Release

31 March  2014

Chatham Rock Phosphate today submitted a draft Marine Consent application to the Environmental Protection Authority - the culmination of four years’ work and more than $25 million in investment.

The Marine Consent is the only major licence CRP now needs, having gained a mining permit for its phosphate extraction project in December. The EPA, New Zealand’s environmental regulator, is expected to decide on CRP’s application in November after a full public process.

Including the proceeds of the rights issue presently underway, Chatham has raised over $27 million from its existing shareholders and through placements to qualified investors to finance extensive spending on science-based research.

Managing Director Chris Castle said the CRP team was very proud of the work contained in the application.

“Rigorous research by scientists has considered the relevant facets of what we propose and demonstrates how we can minimise and mitigate environmental impacts.

“We sincerely appreciate the input from all of our stakeholders that has contributed to our thinking. We believe our work will satisfy any issues raised.

“Having done our homework, we know this project stacks up technically, environmentally and financially.”

Mr. Castle said the CRP’s phosphate resource, located on the seabed of the Chatham Rise, offers fertiliser security for New Zealand’s primary industry, has big export and import substitution potential, as well as environmental benefits, making it a project of national significance.

The Environmental Impact Assessment forming the centrepiece of the Marine Consent application will be considered under the Exclusive Economic Zone environmental consenting regime that came into force in June last year as part of the EEZ and Continental Shelf (Environmental Effects) legislation.

The main 300-plus page document is supplemented by more than 30 appendices, mostly scientific reports and models. The information in the EIA will be publicly available on the EPA website, and via a link on rockphosphate.co.nz, once the EPA has accepted the application as complete.  People are then able to read the information, make submissions and attend public hearings during the next six months.

Contact Chris Castle on +64 21 55 81 85 or chris@crpl.co.nz

NZX Announcement: Update to Rights Issue Timetable

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Dear Chatham Rock Phosphate shareholder,

This announcement was released to NZX this morning.

Regards,

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

24 March 2014

Update to Rights Issue Timetable

Further to the announcements last week, CRP advises that there has been an adjustment to the timetable for its rights issue.

The key change to the timetable is that the rights trading period will now commence this Thursday, 27 March, the same date as the Record Date. The offer period remains the same as previously advised.

An updated timetable for the offer is set out below.

Chris Castle

Chief Executive

Chatham Rock Phosphate Limited

 

Wednesday, 18 March 2014

Prospectus Registration Date

Wednesday, 19 March 2014 until Wednesday, 26 March 2014

FMA consideration period

Thursday, 27 March 2014

Rights trading commences on NZX Alternative Market

Thursday, 27 March 2014 (5pm)

Record Date for determining entitlements

 Friday, 28 March 2014

Prospectus and Entitlement and Acceptance Form mailed to Eligible Shareholders

Friday, 11 April 2014

Rights trading ceases (5.00pm)

Thursday, 17 April 2014

Offer closes (last day for receipt of Entitlement and Acceptance Forms by the Share Registrar) (5.00pm)

Tuesday, 22 April 2014

Allotment date and expected commencement of trading of New Shares applied for by Existing Shareholders.

 Tuesday, 29 April 2014

Allotment date for Shortfall subscribed for by Underwriter.

 

About CRP

CRP holds a strategic, multi-million tonne organic rock phosphate deposit uniquely positioned to access Asian and Australasian fertiliser markets. It was granted a 20-year mining licence in 2013 and has recently applied for new prospecting licences both east and west of its existing licence areas that could significantly increase the scope of resources. CRP is currently finalising its Environmental Impact Assessment for its Marine Consent application.

CRP has appointed Wimmer Financial to manage international capital raising for the company with a view to seeking an AIM Listing in the near future. Wimmer Financial is an international corporate advisory firm, specialising in natural resources, with a global reach through a network of close partners and clients all over the world.

Announcement: Chatham Rock Phosphate advises financing strategy

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Dear Chatham Rock Phosphate shareholder or potential investor,

This announcement was released to NZX a few minutes ago.

If you wish to be added to the underwriting panel for any possible rights issue shortfall, please contact me by return email.

Regards,  

 Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

Media Release

26 February 2014

Chatham Rock Phosphate advises financing strategy

As recently advised CRP Managing Director Chris Castle recently made a repeat visit to London to meet UK based potential investors.

 The visit proved to be successful.

 Meetings were held with a number of investment groups that identified with the project and who indicated their interest in investing by means of private placement, subject to Chatham Rock Phosphate establishing a secondary listing on the London AIM market.

 Accordingly the CRP board has agreed to proceed with the AIM listing process, which is expected only two to three months to complete (as there is no associated public offering).

 In order to maintain our existing momentum, including filing our marine consent application (EIA) in the next few weeks, a decision has also been made to make a very attractively priced rights issue to existing shareholders. Details of this offer will be announced to shareholders on 14 March and the rights will be both renounceable and, subject to NZX approval, tradeable on the NZAX market. Shareholders will also be entitled to apply for shortfall from the offer in addition to their entitlement. It is also intended to establish a panel of underwriters in order to ensure that the issue is fully subscribed.

 CRP holds a strategic, multi-million tonne organic rock phosphate deposit uniquely positioned to access Asian and Australasian fertiliser markets.  It was granted a 20-year mining licence in 2013 and has recently applied for new prospecting licences both east and west of its existing licence areas that could significantly increase the scope of resources.  The company is currently finalising its Environmental Impact Assessment for its Marine Consent application.

 Contact Chris Castle on +64 21 55 81 85 or chris@crpl.co.nz

Allotment of Shares and Options

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Dear Chatham Rock Phosphate shareholder,

This announcement has just been released to NZX.

Best regards,

Chris Castle

CEO

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

14 January 2014

Allotment of Shares and Options

Chatham Rock Phosphate Limited (NZX: CRP) advises that it has today issued 672,217 ordinary shares at an issue price of $0.31 per share and 336,110 CRPOB options to qualified investors. This allotment has raised approximately $210,000 of new capital for CRP. 

Chris Castle

Chief Executive

Email: chris@crpl.co.nz

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NZX Announcement: Chatham Rock Phosphate appoints London corporate advisers for capital raising

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Dear Chatham Rock Phosphate Shareholder,

This announcement has just been released to NZX.

Regards,

Chris Castle

Managing Director

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

Media Release

24 December 2013

Chatham Rock Phosphate appoints London corporate advisers for capital raising

Chatham Rock Phosphate has appointed London corporate finance advisers Wimmer Financial to manage an international capital raising over coming weeks.

The financing, by private placement, is likely to be determined by a book build process managed in conjunction with Wimmer Financial.   The offering, for qualified investors, is likely to be the final capital raising required before CRP is fully permitted.

“As our project is well advanced in all other respects we see the granting of the second permit we require - the environmental or “Marine” consent - as a game changer for us,” according to Managing Director Chris Castle. 

He says an opportunity to invest on the same terms (including options) is unlikely to occur again.

“The recently granted mining permit, the first to be granted under new legislation, faced very rigorous scrutiny indeed. The success of this application bears tribute to the undeniable merits of the project.”

Mr. Castle said the project’s key merits include:

·         Chatham holds a strategic, multi-million tonne organic rock phosphate deposit uniquely positioned to access Asian and Australasian fertiliser markets

·         It has a 20 year mining licence

·         It has recently applied for new prospecting licences both east and west of its existing licence areas that could significantly increase the scope of resources.

Chatham is seeking NZ$6 million (net) to fund the environmental consent and corporate costs until Q3, 2014 when the environmental Marine Consent is expected to be granted. 

Edison Research presently values Chatham shares at NZ$2.04 on un-risked basis. 

Wimmer Financial is an international corporate advisory firm based out of London, UK, specialising in natural resources (mining, oil & gas, alternative energy) and real estate, with global reach through a network of close partners and clients all over the world.

Contact Chris Castle on 021 55 81 85 (mobile) or chris@crpl.co.nz

Contact Per Wimmer, CEO of Wimmer Financial LLP on (+44) 207 432 7501 (office) or

(+44) 77 88 75 76 77 (mobile) or Per.Wimmer@WimmerFinancial.com

Wimmer Logo.jpg

NZX Announcement : Mining Permit Granted

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Dear Chatham Rock Phosphate shareholder,

This announcement has just been released to NZX. See also attached the NZPaM release.

Regards,

Chris Castle

Managing Director

Chatham Rock Phosphate Limited

Cell: +64 21 558 185

Skype: phosphateking

Web: www.rockphosphate.co.nz

 

6 December 2013

NZX Market Announcement

CRP Mining Permit Granted

New Zealand Petroleum and Minerals today announced that CRP has been granted a mining permit in respect of its phosphate project on the Chatham Rise. The permit is the first granted under the amended Crown Minerals Act which came into force on 25 May this year.

The approval of a Mining Permit for Chatham Rock Phosphate to extract rock phosphate from the seabed in the Exclusive Economic Zone is a significant milestone for New Zealand as well as the company and the industry, Managing Director Chris Castle said today.

CRP applied for permission to extract New Zealand’s major phosphate resource under the previous legislation last year and the application was transferred to the new regime, designed to operate in conjunction with the EEZ legislation which applied from June.

“This is our most important milestone to date,” Mr Castle said.  “It means we’re half way to being permitted, so the permit significantly derisks the company.”

Mr Castle said the approval also demonstrates the mining industry’s important contribution to the wider economy. The project will make New Zealand $900 million richer and contribute $250 million a year in exports and import substitution.

Chatham Rise rock phosphate can be used as an ultra-low cadmium direct-application fertiliser.  It has been proved as effective as processed fertiliser and reduces run-off effects on New Zealand waterways by up to 80%.  As a local source it will provide fertiliser security for New Zealand, can be blended with other forms of fertiliser to reduce cadmium levels in processed fertilisers and reduce New Zealand’s transport-related carbon footprint and costs.

Mr Castle said CRP’s remaining final milestone is a Marine Consent, which will be applied for early next year.  The other key risk-factors already substantially satisfied were quantifying the resource, designing the extraction techniques and identifying markets.

CRP has used the time while the Mining Permit application was considered to significantly improve its Marine Consent application.

“We’ve gathered a lot of new information with a particular focus on the best ways we can answer the key questions interested parties want to know.  We’ve talked to a lot of people and they’ve given us a lot of insights into their potential concerns.   We’ve also had sections of our Environmental Impact Assessment peer reviewed by overseas experts who have suggested improvements.

“We feel confident we can satisfy those concerns and demonstrate the environmental impacts of our operations will be minor and localised.  We’ve also thought carefully about mitigation and monitoring and are continuing to talk to anyone with an interest in the project.”

For further information please contact:

Chris Castle

Managing Director

Phone: 021 55 81 85

Email: chris@crpl.co.nz

 

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NZX Announcement

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Dear Chatham Rock Rock Phosphate shareholder,

This announcement was released to NZX a few minutes ago.

Regards,

Chris Castle

CEO
Chatham Rock Phosphate Limited
P.O. Box 231, Takaka 7142
Mobile: +64 21 558 185
chris@crpl.co.nz
Skype: phosphateking
www.rockphosphate.co.nz

Allotment of Shares and Options

Chatham Rock Phosphate Limited (NZX: CRP) advises that it has today undertaken placements at $0.30 per share and at $0.292 per share.

74,627 ordinary shares were issued at an issue price of $0.30 per share to a qualified investor. This investment is on the terms of the current private capital raising offer announced to the market on 9 September, being:

•         CRP agrees an amount of shares to be subscribed for by an investor in aggregate.

•         Half of the shares are subscribed for at an issue price of $0.30 per share (Tranche One).

•         The investor commits to subscribing for the balance of the shares at $0.35 per share within 2 weeks of the Company being granted a mining licence in respect of its Chatham Rise phosphorites project (Tranche Two).

•         For every two shares subscribed for under Tranche One and Tranche Two, one option (CRPOB) is also allotted to the investor.

Accordingly this represents a $50,000 committed investment with $23,000 paid for the shares allotted today and $27,000 to be paid for Tranche Two.

In addition two contractors of the Company (CRP-OCS Consulting Limited and Robin Falconer Associates Ltd) have each received 51,370 shares under Contracts for Service at $0.292 per share. These shares represent partial payment for services. Pursuant to those contracts for service the issue price of NZ$0.292 per share reflects the 20 day volume weighted average price of a share on the NZAX market to 30 September 2013.

Chris Castle

Chief Executive

Email: chris@crpl.co.nz 

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