Key points
- The New Zealand record date for the share purchase plan is 5 p.m. Friday, June 29, 2018, with allotment on or before July 27, 2018.
- Shareholders may buy up to 20,000 units for up to $5,000, or $5,280 New Zealand, with the ability to apply for oversubscriptions.
- Each unit consists of one common share plus one-half of a non-transferable warrant exercisable at 45 cents per share for two years.
- The Canadian tranche had a record date of June 19, 2018, and completion requires TSX Venture Exchange approval to list the shares and warrants.
Chatham Rock Phosphate Ltd., as advised on June 21, 2018, intends to undertake a share purchase plan offer to existing shareholders.
CRP now wishes to confirm the time table for the offering as it relates to New Zealand resident shareholders:
Record date: 5 p.m., Friday, June 29, 2018Offer opens: Monday, July 2, 2018Offer closes: Friday, July 20, 2018Allotment: On or before Friday, July 27, 2018
Record date: 5 p.m., Friday, June 29, 2018
Offer opens: Monday, July 2, 2018
Offer closes: Friday, July 20, 2018
Allotment: On or before Friday, July 27, 2018
The offer will also be made to Canadian resident shareholders; however, the record date for the Canadian component of the offering was June 19, 2018.
Under the share purchase plan, all shareholders, regardless of the size of their existing shareholding, are offered the opportunity to purchase up to 20,000 units at a cost of up to $5,000, or $5,280 (New Zealand) with the ability to apply for oversubscriptions.
Each unit will consist of one common share in the capital of the company and one-half of one non-transferable share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of 45 cents per share at any time prior to the date that is two years from the date of issuance. In the event that the common shares of the company trade on the TSX Venture Exchange at a closing price of greater than 60 cents per common share for a period of 20 consecutive trading days at any time after four months and one day after the closing date of the private placement, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof by way of a news release, and in such case the warrants will expire on the 30th day after the date of dissemination of the news release.
Completion of the offering is subject to receipt of the approval of the TSX Venture Exchange to list the common shares underlying the units and the warrants on the exchange. All securities issued pursuant to the offering will be subject to a four-month-and-one-day hold period in Canada in accordance with applicable Canadian securities laws.
