More Chatham Rock Phosphate Options exercised early
3 May 2011
Exercise of CRPOA Options and Allotment of Ordinary Shares
Chatham Rock Phosphate has approximately 14.75 million $0.10 options on issue which expire on 30 June 2011 and are quoted on the NZAX market under the code CRPOA.
As previously advised to the market, Chatham Rock Phosphate is encouraging the early exercise of these options to enable it to continue the work programme on Mineral Prospecting License 50270 prior to undertaking a proposed initial public offering in Canada.
Exercise forms have been received for a further 595,000 options for which ordinary shares have today been allotted. Full details are set out below.
This has taken the number of options exercised since 1 April to 1,929,000, raising $192,900 in aggregate.
On behalf of the Board,
Chris Castle
Managing Director
Email: chris@widespread.co.nz
Phone: 021 55 81 85
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Class of security: |
Ordinary Shares |
|
ISIN: |
NZWENE0003S0 |
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Number issued: |
595,000 |
|
Exercise price: |
$0.10 per share |
|
Payment in cash: |
Yes |
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Fully paid: |
Yes |
|
Percentage of class: |
1.66% |
|
Reason for the issue: |
Under the terms of issue of the options they may be exercised to receive ordinary shares on a 1:1 basis at any time prior to 30 June 2011 through the return of a completed exercise form and payment of the $0.10 exercise price. |
|
Authority for the issue: |
NZAX Listing Rule 7.3.11(b)(i) |
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Date of issue: |
3 May 2011 |
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Total number of securities on issue following allotments: |
35,455,660 ordinary shares 14,151,276 listed options |
