Manhattan Corporation

Published : April 01st, 2016

Manhattan Share Purchase Plan & Equity Raising

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Keywords :   New Zealand | Uranium |

Manhattan Share Purchase Plan & Equity Raising

f0709827-257f-4aa8-819e-30ca0d75def2.pdf


Level 1

37 Ord Street

West Perth WA 6005


PO Box 1038

West Perth WA 6872


Tel: +61 8 9322 6677

Fax: +61 8 9322 1961

Email: [email protected]


1 April 2016


ASX MARKET ANNOUNCEMENT


MANHATTAN SHARE PURCHASE PLAN AND EQUITY RAISING


The Directors of Manhattan Corporation Limited ("Manhattan" or "the Company") are pleased to announce an equity raising by a planned private equity placement of up to $140,000 to six sophisticated and professional investors ("Investors") and a Share Purchase Plan ("SPP") to all shareholders targeting up to an additional $835,000 in equity funding, if shareholders subscribe for the maximum number of shares, equivalent to a take up of 30% of the Company's issue capital.


The Company's Directors and Company Secretary have indicated they intend to subscribe for New Shares under the SPP.


Funds raised will be applied towards exploration and development of its Ponton uranium project, to cover the costs of the capital raising and provide working capital.


The Directors have resolved to seek to raise up to $835,000 under the SPP. However, The Directors reserve the right to refuse applications in their sole discretion in whole or in part. The Directors intend to seek to place any SPP shortfall with sophisticated and professional investors (excluding related parties) subject to the Company's ability to do so under ASX Listing Rule 7.1.


Both the private placement to the Investors and the SPP shares are priced at Australian 2.5 cents ($0.025) a share.


Under the SPP, existing eligible shareholders who are registered as holders of shares in the Company at 4:00pm (WST) on Thursday, 31 March 2016 ("the Record Date") and whose registered address is in Australia or New Zealand ("Eligible Shareholder"), can apply for up to $15,000 worth of new fully paid ordinary shares in Manhattan ("New Shares"), free of all brokerage and commission costs, at 2.5 cents a New Share.


The Issue Price of 2.5 cents a New Share represents a discount of approximately 15% to the Volume Weighted Average Price ("VWAP") of 2.9 cents a share for the last 5 days on which sales in Manhattan's shares were recorded prior to the SPP being announced 1 April 2016 ("the Offer"). It also represents a discount of approximately 8% to the VWAP of 2.7 cents a share over the last 20 days on which sales in Manhattan's shares were recorded prior to the SPP announcement.


Manhattan will apply for quotation of the New Shares on ASX, which will rank equally in all respects with existing Manhattan fully paid ordinary shares. An indicative timetable is included in this ASX announcement.


Each Eligible Shareholder may participate by completing an Offer and Acceptance Form and subscribing for one of the following offers of New Shares:

2


Subscription Amount

Number of New Shares Applied For

Offer A:

$2,000.00

80,000

Offer B:

$5,000.00

200,000

Offer C:

$10,000.00

400,000

Offer D:

$15,000.00

600,000


Indicative SPP Timetable


Date

Details

Thursday, 31 March 2016

Record Date 4.00pm (WST)

The date on which Manhattan determined shareholders eligible to participate in the SPP, being shareholders registered on that date with an address in Australia or New Zealand

Friday, 1 April 2016

SPP Announced to ASX

Monday, 4 April 2016

Opening Date

The date the SPP Offer is made - SPP opens

Thursday, 21 April 2016

Closing Date

The date on which the SPP Offer closes.

Applications and payments (including BPay®) must be received by 5.00pm (WST).

Thursday, 28 April 2016

Issue Date

The date New Shares are issued.

Friday, 29 April 2016

Holding Statement Mailing Date

The date on which Holding Statements are sent to shareholders who subscribed for New Shares under the SPP.

Friday, 29 April 2016

Share Trading Date

The date on which it is expected that the New Shares will commence trading on the ASX.


The timetable is indicative only and Manhattan may, at its discretion, vary any of the above dates except for the Record Date.


Full details of the SPP and the final timetable will be set out in the SPP Offer document which will be dispatched to Eligible Shareholders on or around Monday 4 April 2016.


Yours sincerely

Manhattan Corporation Limited


Alan J Eggers

Executive Chairman

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Manhattan Corporation

EXPLORATION STAGE
CODE : MHC.AX
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Manhattan Corp is a exploration company based in Australia.

Its main exploration properties are DOUBLE 8, SICCUS PROJECT, GARDNER RANGE and PONTON in Australia.

Manhattan Corp is listed in Australia. Its market capitalisation is AU$ 952 280 as of today (US$ 687 269, € 602 048).

Its stock quote reached its highest recent level on January 14, 2011 at AU$ 1.44, and its lowest recent point on August 23, 2019 at AU$ 0.00.

Manhattan Corp has 136 040 000 shares outstanding.

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Corporate news of Manhattan Corporation
4/29/2016Manhattan Quarterly Report 31 March 2016
4/21/2016Manhattan Successfully Completes $172,500 Share Placement
4/18/2016Manhattan SPP Closing Date Extension & Revised Timetable
4/17/2016Manhattan Appoints Chub Witham COO 4Apr16
4/17/2016Reported Mineral Resorces and Exploration Targets 7Apr16
4/17/2016Manhattan SPP Offer Documents 4Apr16
4/1/2016Manhattan Share Purchase Plan & Equity Raising
1/29/2016Manhattan Quarterly Report 31 December 2015
10/7/2015Manhattan AGM Notice of Meeting 2015
9/29/2015Manhattan 2015 Annual Report & Financial Statements
9/29/2015Manhattan Corporate Governance Statement & Appendix 4G
7/30/2015Manhattan Quarterly Report 30 June 2015
3/12/2015Manhattan Lapse of Unlisted Options
12/2/2014Manhattan Appendix 3Ys AJE JAGS MC 2Dec14
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