Widespread Energy Allotment Announcement
22 April 2010
NZX Market Announcement – Widespread Energy raises $290,000 under Share Purchase Plan Widespread Energy has today completed allotment procedures for its recent Share Purchase Plan. A total of 2,666,220 shares have been subscribed for raising a total of $293,284 in new capital for the Company. The Board is delighted with the success of the Share Purchase Plan with a shortfall of only 970,180 shares not taken up. As previously announced, expressions of interest in subscribing for this shortfall have been received from qualified investors and it is anticipated that this shortfall will be placed in the near future. In accordance with the listing rules, such a placement will not be on more favourable terms than those offered to shareholders under the share purchase plan. As noted in the plan documentation, the new capital raised will principally be used to fund the Chatham Rise phosphorites work programme and we look forward to reporting our progress to you on the programme in due course. Full details of the allotment are set out below. The Board thanks shareholders for their continued support of the Company. For and on behalf of the Board Widespread Energy Limited Chris Castle Managing Director
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chris@widespread.co.nz Class of security: |
Ordinary Shares
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ISIN:
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NZWENE0003S0
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Number issued:
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2,666,220
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Issue price:
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$0.11 per share
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Payment in cash:
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Yes
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Fully paid:
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Yes
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Percentage of class:
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13.08%
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Purpose of the issue:
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Funds raised will be applied towards the work programme for the prospecting permit held in respect of the Chatham Rise phosphorites.
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Authority for the issue:
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Board resolutions
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Date of issue:
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22 April 2010
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Total number of securities on issue following allotments:
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23,053,483 ordinary shares
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