Key points
- Mawarid acquired 82,679,363 Nautilus shares on June 11, 2013, representing approximately 41.3 per cent of the shares offered under the rights offering.
- Of those shares, 33,301,836 were acquired under the basic subscription privilege and 49,377,527 under the standby commitment described in Nautilus’s April 15, 2013 final prospectus.
- MB and its affiliates now beneficially own or control 122,316,260 Nautilus shares, approximately 28.0 per cent of the 436,772,865 shares outstanding.
- The acquisition increased MB and its affiliates’ beneficial ownership of Nautilus by approximately 11.3 per cent, and the shares were acquired for investment purposes only.
Mawarid Offshore Mining Ltd., a wholly owned subsidiary of MB Holding Co., has completed the acquisition of its
basic subscription privilege and its standby commitment for common
shares of Nautilus Minerals Inc. pursuant to the standby purchase agreement entered into between
Mawarid and Nautilus on March 28, 2013. Pursuant to the terms of the
standby purchase agreement, on June 11, 2013, Mawarid completed the
acquisition of an aggregate of 82,679,363 Nautilus shares under
Nautilus’s rights offering, representing approximately 41.3 per cent of the
Nautilus shares offered under the rights offering. Of the 82,679,363
Nautilus shares acquired by Mawarid, 33,301,836 Nautilus shares were
acquired pursuant to the basic subscription privilege and 49,377,527
Nautilus shares were acquired pursuant to the standby commitment (as
described in Nautilus’s final prospectus dated April 15, 2013),
resulting in MB and its affiliates beneficially owning or controlling
122,316,260 shares, representing approximately 28.0 per cent of the outstanding
Nautilus shares (based on 436,772,865 outstanding Nautilus shares as at
the date hereof, as advised by Nautilus). The Nautilus shares acquired
by Mawarid pursuant to the rights offering resulted in an increase of
approximately 11.3 per cent of the Nautilus shares beneficially owned or
controlled by MB and its affiliates.
The additional Nautilus shares were acquired for investment purposes
only. Depending upon the market and other conditions, MB and its
affiliates may acquire additional securities of Nautilus.
