NEWS RELEASE | 28 August 2020
SHARE PURCHASE PLAN - FURTHER EXTENSION TO
CLOSING DATE
Prairie Mining Limited (Prairie or Company) advises that it will extend the Closing Date for all Eligible Shareholders to participate in the Company's Share Purchase Plan (SPP) to 5:00pm (CET) on 14 September 2020.
The Company understands that some state-controlled brokers in Poland are not allowing their clients to participate in the SPP due to Prairie's dispute with the Republic of Poland. Extending the Closing Date will allow Polish shareholders additional time to participate in the SPP.
The Company recommends that Polish shareholders who have been unable to but wish to participate in the SPP, should contact Prosper Capital Dom Maklerski S.A. on +48 (22) 201 11 30 or biuro@pcdm.pl.
An updated SPP timetable has been provided over page.
ARBITRATION CLAIMS
On 1 July 2020, Prairie announced it had executed a Litigation Funding Agreement (LFA) for A$18m (US$12.3m) with LCM Funding UK Limited (a subsidiary of Litigation Capital Management Limited). The facility is available for immediate draw down for Prairie to pursue damages claims in relation to the investment dispute between Prairie and the Polish Government that has arisen out of certain measures taken by Poland in breach of the Energy Charter Treaty and the Australia-Poland Bilateral Investment Treaty (Treaties).
Prairie and its legal counsel are currently preparing for arbitration claims which will be submitted in the coming days. The claim will allege that the Republic of Poland has breached its obligations under both domestic law and Treaties. Prairie's claim for damages may include, but is not limited to, lost profits for both the Jan Karski and Debiensko mines as well as the value of Prairie's historic expenditure in developing both mines plus interest and costs.
For further information, please contact: | |
Prairie Mining Limited | Tel: +44 207 478 3900 |
Ben Stoikovich, Chief Executive Officer | Email:info@pdz.com.au |
Sapan Ghai, Head of Corporate Development | |
Kazimierz Chojna, Commercial Officer |
This announcement has been authorised for release by the Company Secretary.
Prairie Mining Limited | LSE / ASX / GPW: PDZ | ABN: 23 008 677 852 | | www.pdz.com.au |
LONDON Unit 3C, 38 Jermyn Street | London | SWY1 6DN | T: +44 207 478 | 3900 |
PERTH Level 9, 28 The Esplanade, Perth WA 6000 | T: +61 8 9322 6322 | F: +61 | 8 9322 6558 |
WARSAW Wiejska 17/11 | Warsaw | 00-480 |
Updated SPP Timetable
Details | Date | |
Record Date | 5:00pm (Perth time) on 20 July 2020 | |
The date on which the Company determines Eligible | ||
Shareholders | ||
Dispatch Date | 23 July 2020 | |
The date on which this document and the Application | ||
Forms are dispatched to Eligible Shareholders | ||
Opening Date | 23 July 2020 | |
The date on which the Offer opens | ||
RevisedClosing Date | 5:00pm (CET) on 14 | September 2020 |
The date on which the Offer closes | ||
Applications and payments must be received by this date | ||
RevisedAnnouncement of SPP results | 17 | September 2020 |
RevisedIssue Date | 23 | September 2020 |
The date New Shares are intended to be issued | ||
RevisedQuotation of New Shares on ASX | 25 | September 2020 |
With an application for the shares to trade on the London and | ||
Warsaw Stock exchanges occurring as soon as possible following | ||
quotation on ASX. | ||
- 2 -
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Prairie Mining Limited published this content on 28 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2020 22:57:02 UTC