10
June 2009
ASX
/ Media Announcement
CAPITAL RAISING
? NON-RENOUNCEABLE ENTITLEMENT OFFER
Fox Resources Limited (ASX:FXR)
is pleased to announce an upcoming one (1) for two (2) non-renounceable
pro-rata entitlement offer (Entitlement Offer). A Prospectus for the
Entitlement Offer has been lodged with ASIC. A copy of the Prospectus and an
Appendix 3B is attached to this announcement.
The key aspects of the Entitlement
Offer are as below:
?
Issue price of 13 cents for each new FXR share
?
One (1) free attaching option (exercisable at $0.30 cents and expiring
on 30 November 2010) per one (1) new FXR share issued. Application will be made
for quotation of the free attaching options
?
Record Date of 19 June 2009
?
Eligible shareholders who take up their full entitlement under the
Entitlement Offer will have the opportunity to apply for additional new FXR
shares (and free attaching options) that are not subscribed for in the
Entitlement Offer (Shortfall Securities)
?
Issue of Shortfall Securities will be at the discretion of the directors
?
The Entitlement Offer will not be underwritten
The Entitlement Offer will result in
the issue of up to 100,861,801 new FXR shares (and up to 100,861,801 free
attaching new options) and will raise an estimated $13,112,034 if the
Entitlement Offer is fully subscribed or, if not, all
the Shortfall Securities are placed. The funds will be applied (after paying
expenses of the Entitlement Offer) towards:
?
Continued Base metals exploration near mine to increase the Company?s current resources
?
Payment of creditors
?
Working capital for the Heap Leaching test work and operation
? Working
capital to pursue new and relevant opportunities.
The proposed timetable for the
Entitlement Offer is set out below:
Event
Date
Lodgment of Appendix 3B and
Prospectus with ASX
11 June 2009
Record Date for determining eligible
shareholders
19 June 2009
Prospectus dispatched to
Shareholders
25 June 2009
Closing Date* 5:00pm
(AWDT)
14 July 2009
ASX notified of under
subscriptions
17 July 2009
Allotment and dispatch of
transaction confirmation statements
22 July 2009
Commencement of trading in New
Shares and New Options
23 July 2009
This timetable is indicative only
and subject to change. Subject to the Corporations Act 2001 (Cth) and the ASX Listing Rules, the FXR Directors reserve
the right to vary these dates including the closing date of the Entitlement
Offer, without prior notice. The Directors also reserve the right not to
proceed with the whole or part of the Entitlement Offer at any time prior to
allotment. In that event, application moneys will be returned without
interest. The Directors reserve the right to seek to underwrite the
Entitlement Offer or allocate the Shortfall Securities to interested investors
as the Directors deem appropriate.
Full details of the terms and
conditions of the Entitlement Offer will be contained in the Prospectus to be
lodged with ASX and dispatched to eligible FXR Shareholders in accordance with
the timetable set out above.
Yours faithfully
Bruno Seneque
Managing Director
For further details please contact:
Bruno Seneque, Managing Director +61 8 9318 5600
Ryan McKinlay / Warrick Hazeldine ? Purple Communications +61 8 6314 6300
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