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 55¢

Key stats as at 18 May

Security

Number on issue

Market price (cents)

Market Value ($M)

Net assets ($M)

Ordinary shares

23,490,449

16.0

3.758

12.8*

Market value discount    (ords only)  

 70.7%

 

Listed warrants

8,505,123

0.8

.068

 

* Our ASN shareholding is now held for NTA disclosure purposes at a valuation of CAD 1.914 million based on our share of net assetsNTA per WID share valuing ASN at the current spot market price is 46.8 cents. NTA per share valuing all listed assets at spot market prices is 22.7 cents.

 

 

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