Orocobre Limited Share Purchase Plan
11.02.2015 | ABN Newswire
Brisbane, Australia (ABN Newswire) - Orocobre Ltd. (ASX:ORE) (TSE:ORL) is pleased to offer existing shareholders the opportunity to participate in a $15,000,000 Share Purchase Plan (the Offer) to acquire additional shares at an Issue Price of $2.55 per share.Orocobre has recently completed commissioning the Olaroz Lithium plant which is now ramping up to full production. A copy of our recent ASX announcement is enclosed. Orocobre has also now completed a $40,000,000 institutional placement at $2.55 per share.
The Offer will open on 16 February and will remain open for subscription until 5pm (Sydney time) on 10 March 2015.
Key Features of the Offer
- Shares are offered at $2.55 per share, being the same price paid by institutional investors for shares in Orocobre in the recently completed $40,000,000 institutional placement.
- Shares will be offered at a 13% discount to the closing price on the last day of trading prior to the announcement of the Offer.
- Canaccord Genuity (Australia) Ltd has underwritten the Offer up to $10,000,000.
- There are no transaction costs to participants.
The right to participate in the Offer is optional and is available exclusively to shareholders who were registered as holders of fully paid ordinary shares in the Company as at 7.00pm Australian Eastern Daylight Time (AEDT) on 4 February 2015 and whose address in the Company's share register was in Australia or New Zealand (Eligible Shareholders).
Eligible Shareholders can purchase as little as $1,000 of shares up to a maximum of $15,000. All shares issued under the Offer will rank equally with existing Orocobre shares.
If you do not wish to participate in the Offer, you do not have to do anything and may disregard this letter and the other Offer Documents.
The Company reserves the right to scale back applications (in its absolute discretion) in the event that the total value of the acceptances to the Offer exceeds $15,000,000.
The terms and conditions of the Offer are outlined in the enclosed Offer Booklet. By making an application to purchase shares under the Offer, you will have agreed to be bound by those terms and conditions. We encourage you to read and consider carefully the Offer terms and conditions.
For all enquiries regarding the Offer, your holding of shares, or other registry enquires please contact Boardroom Pty Ltd, GPO Box 3993, Sydney NSW 2001. Tel (within Australia) 1300 737 760, (outside Australia) +61 2 9290 9600, or Facsimile +61 2 9279 0664.
To view the share purchase plan, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ORE-842029.pdf
About Orocobre Limited:
Orocobre Ltd. is listed on the Australian Securities Exchange and Toronto Stock Exchange (ASX:ORE) (TSE:ORL), and is building a substantial Argentinian-based industrial minerals company through the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina. The Company is building in partnership with Toyota Tsusho Corporation the first large-scale, "greenfield" brine based lithium project in 20 years at its flagship Salar de Olaroz resource, with projected production of 17,500 tonnes per annum of low-cost battery grade lithium carbonate scheduled to commence at the end of Q2, 2014. The Company also wholly-owns Borax Argentina, an important regional borate producer. Orocobre is included in the S&P/ASX 300 Index and was named 2012 Mining Company of the Year by Argentine mining magazine Panorama Minero and the Fundacion para el Desarrollo de la Mineria Argentina ("Fundamin" or Foundation for Development of Argentina Mining).
Contact:
Orocobre Ltd.
E: mail@orocobre.com
www.orocobre.com.au