Correction to private placement announcement

 

29 January 2010

NZX Market Announcement

Correction of Announcement of 28 January

Further to the announcement yesterday regarding WEN’s placement raising $198,200, an error has been identified in that announcement.

The investors in the placement have agreed to invest a further $198,200 in WEN should Crown Minerals grant to WEN a prospecting license over the Chatham Rise in the next twelve months. They have not agreed to subscribe for a fixed amount of shares as was stated in the announcement.

For and on behalf of the Board

Widespread Energy Limited

Chris Castle

Director

chris@widespread.co.nz

NTA 48¢

Key stats as at 9 September

Security

Number on issue

Market price (cents)

Market Value ($M)

Net assets ($M)

Ordinary shares

23,490,449

14.1

3.312

11.4*

Market value discount    (ords only)    70.9%  

Listed warrants

8,505,123

1.5

0.126

 

* Our ASN shareholding is now held for NTA disclosure purposes at a valuation of CAD 2.154 million based on our share of net assetsNTA per WID share valuing ASN at the current spot market price is 43.7 cents.

 

 

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