Microsoft Word - Day 1 - letter to eligible shareholders - MPJ
17 March 2015
> Dear Shareholder
NON‐RENOUNCEABLE RIGHTS ISSUE
Mining Projects Group Limited ("MPJ" or "the Company") is undertaking an underwritten pro‐rata non‐renounceable rights issue offer pursuant to an offer notice and an offer document under section 708AA of the Corporations Act 2001 (Cth).
The offer to eligible shareholders is 1 new share for every 5 shares held at the Record Date at an issue price of 0.6 cents ($0.006) per share and one free attaching MPJO listed option for every new share subscribed to raise up to approximately $1.6 million before costs of the issue ("the Offer"). Each listed MPJO option has an exercise price of 1 cent ($0.01) and an expiry date of 30 June 2016.
The Offer is underwritten by Alignment Capital Pty Ltd [ACN 167 124 754]. The Offer timetable is set out below:
Lodgement of offer announcement and Appendix 3B
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16 March 2015
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Existing shares quoted 'ex' rights
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19 March 2015
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Record Date for determining Entitlements to participate in Offer (at 5.00 pm in Perth,
WA)
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23 March 2015
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Dispatch of Offer Document and Entitlement & Acceptance Form
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26 March 2015
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Closing Date for acceptance of Offer and payment in full (at 5.00pm in Perth WA)
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8 April 2015
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Shares and options quoted on deferred settlement basis
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9 April 2015
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Company notifies ASX of under subscriptions
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13 April 2015
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Issue date. Deferred settlement trading ends.
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15 April 2015
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The dates above are indicative only and subject to change. Subject to the Corporations Act and ASX Listing Rules, MPJ reserves the right to amend this indicative timetable. In particular MPJ reserves the right to extend the Closing Date or withdraw the offer without notice. Any extension of the Closing Date will have a consequential effect on the anticipated date for the issue of shares and options.
The shares offered are fully paid ordinary shares, and will rank equally with the Company's existing ordinary shares. The options offered are MPJO listed options, each to acquire on fully paid share. Shareholder approval is not required for the issue of shares and options under the Rights Issue.
The offer is to be made to shareholders of the Company registered as holders of Shares as at 5.00 pm
MINING PROJECTS GROUP LIMITED
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Level 2 43 Ventnor Avenue
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P +61(0)8 6144 4492
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ABN 84 006 189 331
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West Perth WA 6005 Australia
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F +61(0)3 9614 0550
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www.miningprojectsgroup.com.au
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(WST) on the Record Date whose address in the Company's register of members is in Australia or New Zealand. No offer is made to shareholders of the Company whose address in the Company's register of members is outside Australia or New Zealand. The shares and options that would otherwise have been offered to ineligible foreign shareholders will be available to be taken up either by eligible shareholders who apply for the shortfall or will be taken up by the Underwriter or sub‐ underwriters.
The Company will apply to ASX for quotation of the shares and options offered. Funds raised by the offer are to be used for:
Use:
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$
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%
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Exploration and development
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$1,203,000
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73.46%
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Employee, directors and administration/corporate costs
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$201,000
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12.27%
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Other working capital costs
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$78,900
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4.82%
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Costs of the offer
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$154,800
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9.45%
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Total
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$1,637,700
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100%
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Note: Subject to rounding.
The terms of the Offer are be set out in the offer notice and offer document released to ASX as an announcement on 16 March 2015, which are also available to be viewed at the Company's website at www.miningprojectsgroup.com.au. A copy of the offer document and a personalised entitlement
and acceptance form will be sent to each eligible shareholder.
Yours faithfully
MINING PROJECTS GROUP LIMITED
Adrien Wing
Company Secretary