On behalf of the board of directors (Board) of Core Exploration Limited (ACN 146 287 809) (Company), I am pleased to offer eligible shareholders with the opportunity to subscribe for up to $15,000 of new fully paid ordinary shares in the Company (New Shares), free of brokerage and commission, under a Share Purchase Plan (SPP or Plan).
The right to participate in the Offer under the Plan is optional and is available exclusively to shareholders who are registered as holders of fully paid ordinary shares in the capital of the Company (Shares) at 7:00 pm (AEST) on 13 April 2018 and whose registered address is in Australia or New Zealand (Eligible Shareholders).
The SPP is targeting to raise $2.0 million. If total demand for the SPP exceeds $2.0 million, then the Company reserves the right to close the SPP early and scale back applications or elect to increase the amount raised under the Plan.
The SPP issue price is 5.3 cents per New Share representing an 18.6% discount to the volume weighted average price of Shares over the last 5 days on which sales of the Shares were recorded by ASX Limited prior to the date of the announcement of the SPP on 16 April 2018.
So the most you can buy is around 280,000 shares which is around a 2% discount of the current price. HmmmK
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