4-traders
Cape Alumina Ltd : Partially Underwritten Share Purchase Plan
Edited by : AL CIRCLE
1 min read
Cape Alumina Limited (Cape Alumina or Company) is pleased to advise that it will be undertaking a Share Purchase Plan (SPP) to raise up to $2,340,000. One important objective of this capital raising is to allow smaller shareholders the opportunity to increase their investment in the Company at an attractive price and with no brokerage fees.
The SPP will allow all existing Cape Alumina shareholders registered in Australia and New Zealand and who hold shares on the record date of 28 November 2011, the opportunity to subscribe for up to $15,000 of shares in Cape Alumina at 12 cents per share. Based on the share price at closing on 24 November 2011, the offer price equates to approximately 36.8% discount to the last traded share price.
No brokerage, commission, stamp duty or other transaction costs will be payable by eligible shareholders in respect of the application and issue of shares. Patersons Securities Limited will underwrite 50% of the maximum amount of the SPP subject to finalisation of documents. The offering may be scaled back in the event of over-subscription as specified in the letter of offer.
The SPP will allow all existing Cape Alumina shareholders registered in Australia and New Zealand and who hold shares on the record date of 28 November 2011, the opportunity to subscribe for up to $15,000 of shares in Cape Alumina at 12 cents per share. Based on the share price at closing on 24 November 2011, the offer price equates to approximately 36.8% discount to the last traded share price.
No brokerage, commission, stamp duty or other transaction costs will be payable by eligible shareholders in respect of the application and issue of shares. Patersons Securities Limited will underwrite 50% of the maximum amount of the SPP subject to finalisation of documents. The offering may be scaled back in the event of over-subscription as specified in the letter of offer.
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