Share Purchase Plan
(Thomson Reuters ONE) - AIM RELEASE26 October 2009 SHARE PURCHASE PLANDiscovery Metals Limited (ASX/BSE code 'DML': AIM 'DME") todayannounced a Share Purchase Plan to raise up to $3,000,000 to beapplied towards completing the Bankable Feasibility Study at theBoseto Copper Project, including continued exploration drilling anddeposits on long lead capital items and for on-going corporate costs.Discovery Metals Limited Managing Director Brad Sampson said that therecent Placement of $13.1M in Australia and the UK was very pleasingand a strong recognition of the economic strength of the BosetoCopper Project.Mr Sampson said "Monies raised through a shareholder Share PurchasePlan (SPP) together with the recent capital raising will provide theCompany with a solid financial base. Discovery Metals is now wellplaced to complete the Bankable Feasibility Study in March 2010 andprogress to the funding and project stage of the Boseto CopperProject."The SPP is designed to provide all eligible shareholders with theopportunity to purchase up to $15,000* worth of shares in theCompany. The SPP will also provide an opportunity for shareholderswith small shareholdings to increase their holdings into marketableparcels.Terms of the SPP Offer and Key datesThe purchase price of the shares under this initial SPP offer toshareholders has, on this occasion, been set at $0.45 per share. Thisrepresents a discount of approximately 15% to the average tradingprice of Discovery Metals Limited shares quoted on the ASX over the 5days prior to the date of this announcement. The SPP does not requireshareholder approval.Participation will be open to registered shareholders of fully paidordinary shares in the Company on the record date of 23 October 2009,and who have registered addresses in Australia and New Zealand.The timetable for the offer of shares under the SPP is as follows:* Record date for entitlements: 23 October 2009* SPP Opens*: 28 October 2009* Closing date for applications**: 23 November 2009* Issue and allotment of shares: Within 10 days of closing of the offer* subject to receipt of ASX waiver** Unless extended at the Company's discretion.A maximum of 6,666,667 shares will be allocated under the SPP which,if fully taken up, will raise approximately $3 million for theCompany. Priority will be given to those shareholders whoseapplication forms and payments are received first by the Company.The Offer Document, Application Form and detailed Terms andConditions will be forwarded to shareholders.For further information contact:Discovery Metals LimitedBrad SampsonManaging DirectorTel: +617 3218 0200Fairfax I.S. PLCEwan Leggat / Laura LittleyTel: +44 (0)20 7598 5368Conduit PRJos Simson/Emily FentonTel: +44 (0) 20 7429 6603Mobile: +44 (0)7899 870 450Further information on the Company is available on its website:www.discoverymetals.com.au---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 26.10.2009 - 09:16 Uhr
Sprache: Deutsch
News-ID 7396
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