Sovereign Gold Co Ltd. Share Purchase Plan
17.06.2014 | ABN Newswire
Sydney, Australia (ABN Newswire) - Sovereign Gold Co Ltd (ASX:SOC) (Sovereign Gold) advises that it will implement a Share Purchase Plan (SPP) offering eligible shareholders the opportunity to purchase shares in Sovereign Gold without brokerage or other related charges.The Offer price will be the lower of 4 cents or a 10% discount to the volume-weighted average price of SOC shares traded on the Australian Securities Exchange (ASX) over the 5 trading days up to and including the day on which the Offer is scheduled to close (23 July 2014), rounded down to the nearest one tenth of one cent.
The maximum price that eligible shareholders will pay is 4 cents per New Share.
Participation in the Offer is optional and is open to Eligible Shareholders who were holders of Shares in Sovereign Gold at 5.00 pm (AEST) on 16 June 2014 and whose registered address is in Australia or New Zealand.
Shareholders can purchase shares totaling up to $15,000.
Funds raised through the SPP will be used to progress the company's exploration activities and to provide working capital.
Shares issued under the SPP will rank equally with existing shares.
Indicative Dates
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Record Date 16 June 2014
Announcement of the Share Purchase Plan 17 June 2014
Documents mailed to Eligible Shareholders 23 June 2014
Opening date for acceptances 23 June 2014
Closing date for acceptances 23 July 2014
Allotment and issue of New Shares 30 July 2014
Quotation of New Shares on ASX 30 July 2014
Dispatch of shareholder statements 30 July 2014
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Full details of the SPP and Application Forms will be sent to all eligible shareholders on 23 June 2014.
About Sovereign Gold Company Limited:
Sovereign Gold Co Ltd (ASX:SOC) is an Australian-based gold exploration and development company that holds a highly prospective tenement package, for Intrusion-Related Gold Systems (IRGS), in New South Wales, Australia. Sovereign Gold holds 11 Exploration Licences covering over 3,240km2 near Armidale in NSW, including the historic Rocky River-Uralla Goldfields. Sovereign Gold's aggressive exploration program in several of these licence areas is funded via a joint venture (at the tenement level) with Jiangsu Geology & Engineering Co Ltd (SUGEC), a major Chinese State-owned geology enterprise. The other area of focus is the Mt. Adrah Project, approximately 50km southeast of the regional NSW centre of Wagga Wagga and 23km northwest of the historic mining district of Adelong, via an 87% interest in unlisted Gossan Hill Gold Limited. This area contains the recently discovered, world-class, Hobbs IRGS deposit which is currently under evaluation.
Contact:
Sovereign Gold Co Ltd
T: +61-2-9251-7177
F: +61-2-9251-7500
E: corporate@sovereigngold.com.au
www.sovereigngold.com.au