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01.11.2002 1 for 5 renounceable rights issue |
The Directors have today announced a 1 for 5 renounceable rights issue to existing shareholders of up to 9,026,762
ordinary shares at a price of 6.5 cents per share.
The books will close to determine entitlements at 5pm on Friday 15th November 2002 and offer documents and acceptances forms will be mailed to shareholders on Monday 18th November 2002. The rights will commence trading on Monday 18th November, and will trade until Wednesday 18th
December 2002. The offer closes at 5pm on Friday 20th December 2002.
The issue has been underwritten to $570,000, and total issue expenses including underwriting fees are estimated to be approximately $50,000 and will be met directly from funds raised.
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