The Board of MOD Resources Limited (ASX: MOD) advises that the Company's Share Purchase Plan (SPP)
underwritten to $600,000 by Patersons Securities Limited closes at 5.00pm (WST) today, Friday 27 March 2015.
The SPP provides the opportunity for eligible shareholders to purchase up to $15,000 of MOD Shares at a 20% discount to the VWAP of Shares on ASX over the last 5 days on which sales in the Shares are recorded immediately prior to the issue date of Shares under the SPP.
The remaining timetable for the SPP is as follows:
EVENT | DATE |
SPP Closing Date | 5.00pm (WST), Friday, 27 March 2015 |
Pricing Period to determine the price per Share issued under the SPP | Monday, 30 March 2015 to Tuesday, 7 April 2015 |
Shortfall Notice Date | Tuesday, 31 March 2015 |
SPP results and pricing announcement | Wednesday, 8 April 2015 |
Allotment of SPP Shares (including Shortfall Shares) and dispatch of transaction confirmations and if applicable a direct credit of deposit or refund cheque | Wednesday, 8 April 2015 |
SPP Shares (including Shortfall Shares) commence trading | Thursday, 9 April 2015 |
These dates are indicative only. The Company reserves the right to further vary these dates.
Further to the Company's Section 708A Notice announced on 13 March 2015 regarding a $2 million loan facility provided by SHL Pty Ltd, the Company has been granted a waiver from listing rule 10.1 by ASX, which permits the loan to be a secured loan. To be effective, the security attaching to the loan and any material variations to the loan are subject to the Company complying with applicable laws including ASX listing rules and obtaining shareholder approval under listing rule 10.1. The Company is considering a number of funding alternatives to repay the loan and discharge the security on or before 4 January 2016. A summary of the material terms of the loan will be included in the Company's Annual Report, due to be released on Tuesday 31 March 2015.
For further information, please contact:
Julian Hanna Mark Clements
Managing Director Executive Chairman and Company Secretary
MOD Resources Limited MOD Resources Limited Ph: (61 8) 9322 8233 Ph: (61 8) 9322 8233 jhanna@modresources.com.au mclements@modresources.com.au
ASX code: MOD | T +61 (8) 9322 8233 | F +61 (8) 9322 8077 | E administrator@modresources.com.au | www.modresources.com.au
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