WAS 0.00% 0.4¢ wasabi energy limited

rights issue - cambrian on board

  1. hi
    279 Posts.
    guys - CAMBRIAN PLC has quadrupled in VALUE over recent months (yes thats 400% return), THEY ARE a major s'holder in WAS....looks v.good to me....

    Don't forget AGZ as well...!!!

    1 for 2 rights issue to be approved at a meeting on 7 feb 05,,,,!

    Resolution 2 – Issue of Shares to an Underwriter The Company announced on 22 November 2004 its intention to raise up to $1,988,230 by a non-renouncable Rights Issue. The pro-rata offering is on the basis of one New Share at a price of 1.6 cents and a free attaching Option expiring 31 December 2006 and exercisable at 2 cents per share for every two existing Shares. Cambrian Mining Plc (“Cambrian”), a major shareholder of the Company, has agreed to underwrite the Rights Issue. The Underwriting Agreement is subject to and conditional upon Shareholders approving the issue of any shortfall New Shares to Cambrian in accordance with all relevant provisions of the ASX Listing Rules and the Corporations Act. The ASX Listing Rules and the Corporations Act set out various regulatory requirements which must be satisfied in relation to the issue of Shares to Cambrian pursuant to the Underwriting Agreement.
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